MV Capital Management Inc. Sells 156 Shares of Cardinal Health, Inc. (NYSE:CAH)

MV Capital Management Inc. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 19.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 632 shares of the company’s stock after selling 156 shares during the quarter. MV Capital Management Inc.’s holdings in Cardinal Health were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC bought a new stake in Cardinal Health in the 4th quarter worth $26,000. Promus Capital LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth about $30,000. Bellwether Advisors LLC purchased a new position in Cardinal Health during the 4th quarter valued at about $32,000. Tompkins Financial Corp increased its holdings in Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock valued at $34,000 after purchasing an additional 128 shares during the period. Finally, Lee Danner & Bass Inc. bought a new position in Cardinal Health during the 4th quarter valued at approximately $35,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $153.34 on Thursday. The company has a 50-day simple moving average of $144.62 and a two-hundred day simple moving average of $132.08. The stock has a market capitalization of $36.60 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $157.82.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period in the previous year, the business earned $2.08 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.33%. Cardinal Health’s payout ratio is 31.83%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CAH shares. Mizuho lifted their price objective on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Robert W. Baird lifted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley upped their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Wells Fargo & Company raised shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Finally, Bank of America raised their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $150.57.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.