New Mexico Educational Retirement Board decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.1% during the second quarter, Holdings Channel reports. The institutional investor owned 29,354 shares of the company’s stock after selling 2,600 shares during the period. New Mexico Educational Retirement Board’s holdings in Cardinal Health were worth $2,268,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Alpha Windward LLC increased its stake in Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares in the last quarter. HL Financial Services LLC increased its stake in Cardinal Health by 0.3% in the first quarter. HL Financial Services LLC now owns 11,887 shares of the company’s stock valued at $969,000 after buying an additional 38 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Cardinal Health by 0.9% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,321 shares of the company’s stock valued at $353,000 after buying an additional 39 shares in the last quarter. Private Trust Co. NA increased its stake in Cardinal Health by 0.3% in the first quarter. Private Trust Co. NA now owns 13,731 shares of the company’s stock valued at $1,119,000 after buying an additional 41 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Cardinal Health by 1.2% in the second quarter. Bessemer Group Inc. now owns 4,238 shares of the company’s stock valued at $330,000 after buying an additional 51 shares in the last quarter. Institutional investors own 87.09% of the company’s stock.

Shares of Cardinal Health, Inc. (NYSE:CAH) opened at 67.31 on Friday. The company has a 50-day moving average of $76.01 and a 200 day moving average of $76.91. Cardinal Health, Inc. has a 12-month low of $62.70 and a 12-month high of $84.88. The firm has a market capitalization of $21.27 billion, a PE ratio of 16.70 and a beta of 0.80.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.24 by $0.07. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post $4.97 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be given a $0.4624 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.85 annualized dividend and a dividend yield of 2.75%. Cardinal Health’s dividend payout ratio is 45.79%.

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Several equities research analysts have issued reports on the stock. William Blair downgraded shares of Cardinal Health from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 19th. Jefferies Group LLC assumed coverage on shares of Cardinal Health in a research note on Wednesday, May 17th. They set a “hold” rating and a $77.00 price objective for the company. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Cardinal Health from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Vetr raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 target price on the stock in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. Cardinal Health has an average rating of “Hold” and an average target price of $80.46.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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