Cardinal Health, Inc. (NYSE:CAH) Position Reduced by Cognios Beta Neutral Large Cap Fund LP

Cognios Beta Neutral Large Cap Fund LP lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,629 shares of the company’s stock after selling 671 shares during the period. Cognios Beta Neutral Large Cap Fund LP’s holdings in Cardinal Health were worth $567,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its position in shares of Cardinal Health by 8.9% in the third quarter. Flagship Harbor Advisors LLC now owns 5,566 shares of the company’s stock worth $483,000 after purchasing an additional 453 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Cardinal Health in the 3rd quarter valued at $126,000. Measured Wealth Private Client Group LLC raised its position in shares of Cardinal Health by 6.6% during the third quarter. Measured Wealth Private Client Group LLC now owns 7,606 shares of the company’s stock worth $660,000 after purchasing an additional 472 shares during the period. Czech National Bank lifted its holdings in shares of Cardinal Health by 47.6% during the 3rd quarter. Czech National Bank now owns 44,499 shares of the company’s stock valued at $3,863,000 after purchasing an additional 14,359 shares in the last quarter. Finally, MBM Wealth Consultants LLC increased its position in shares of Cardinal Health by 3.7% during the third quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company’s stock worth $302,000 after acquiring an additional 115 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 0.2 %

CAH stock traded up $0.16 during midday trading on Wednesday, hitting $103.54. The company’s stock had a trading volume of 2,057,471 shares, compared to its average volume of 2,274,126. The company has a market cap of $25.18 billion, a PE ratio of 40.76, a P/E/G ratio of 0.99 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $77.56 and a 12 month high of $116.04. The firm’s 50-day moving average is $109.56 and its 200-day moving average is $104.59.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.93%. Cardinal Health’s payout ratio is currently 78.74%.

Analysts Set New Price Targets

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

About Cardinal Health

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.