Cardinal Health, Inc. $CAH Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 22.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,678 shares of the company’s stock after selling 27,186 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cardinal Health were worth $19,662,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Strategy Asset Managers LLC acquired a new stake in Cardinal Health during the 3rd quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cardinal Health by 15.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after buying an additional 5,030 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Cardinal Health in the third quarter valued at about $2,090,000. Atle Fund Management AB lifted its stake in shares of Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after buying an additional 3,500 shares in the last quarter. Finally, Candriam S.C.A. lifted its stake in shares of Cardinal Health by 10.8% in the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after buying an additional 19,155 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 2.4%

NYSE CAH opened at $211.27 on Wednesday. The stock has a fifty day simple moving average of $217.30 and a 200-day simple moving average of $197.56. The stock has a market cap of $49.71 billion, a PE ratio of 30.40, a P/E/G ratio of 1.33 and a beta of 0.65. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.32. The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 EPS. Research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s payout ratio is 29.35%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Robert W. Baird set a $252.00 price target on Cardinal Health in a research report on Friday, February 6th. Argus increased their price target on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.