Prepared Retirement Institute LLC Sells 560 Shares of Cardinal Health, Inc. (NYSE:CAH)

Prepared Retirement Institute LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,166 shares of the company’s stock after selling 560 shares during the quarter. Prepared Retirement Institute LLC’s holdings in Cardinal Health were worth $298,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Cardinal Health by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock worth $691,145,000 after buying an additional 109,273 shares during the last quarter. Invesco Ltd. increased its position in shares of Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock worth $376,396,000 after purchasing an additional 140,368 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company’s stock worth $359,286,000 after acquiring an additional 422,755 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cardinal Health by 4.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company’s stock worth $274,599,000 after acquiring an additional 94,768 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAH shares. Robert W. Baird increased their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Evercore ISI reaffirmed an “outperform” rating and set a $180.00 target price (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. UBS Group raised their price objective on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. Finally, Bank of America boosted their target price on Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, June 10th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Cardinal Health Stock Performance

NYSE CAH opened at $160.87 on Monday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $168.44. The firm has a market capitalization of $38.40 billion, a P/E ratio of 25.10, a PEG ratio of 1.59 and a beta of 0.68. The stock has a 50-day simple moving average of $157.67 and a two-hundred day simple moving average of $139.03.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. The company had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. As a group, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.27%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s dividend payout ratio is presently 31.83%.

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.