Cardinal Health, Inc. (NYSE:CAH) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 583,508 shares of the company’s stock after selling 26,995 shares during the quarter. New York State Common Retirement Fund owned approximately 0.24% of Cardinal Health worth $58,818,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC acquired a new position in shares of Cardinal Health during the third quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $30,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $36,000. Headlands Technologies LLC purchased a new stake in shares of Cardinal Health in the third quarter valued at approximately $47,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. SVB Leerink started coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Barclays initiated coverage on Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, UBS Group upped their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Price Performance

Cardinal Health stock opened at $103.37 on Wednesday. Cardinal Health, Inc. has a 1-year low of $77.56 and a 1-year high of $116.04. The stock has a market cap of $25.14 billion, a PE ratio of 40.70, a P/E/G ratio of 0.99 and a beta of 0.68. The stock’s fifty day moving average is $109.56 and its two-hundred day moving average is $104.60.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts expect that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 78.74%.

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.