MV Capital Management Inc. Has $87,000 Holdings in Cardinal Health, Inc. (NYSE:CAH)

MV Capital Management Inc. cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 19.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 632 shares of the company’s stock after selling 156 shares during the period. MV Capital Management Inc.’s holdings in Cardinal Health were worth $87,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

CAH has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Morgan Stanley raised their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Citigroup reissued a “neutral” rating on shares of Cardinal Health in a research note on Thursday, May 1st. Finally, UBS Group raised their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $150.57.

Cardinal Health Stock Performance

Shares of CAH opened at $153.34 on Thursday. The firm has a market cap of $36.60 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business has a 50-day moving average of $144.62 and a 200 day moving average of $132.08. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $157.82.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.08 EPS. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.33%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 31.83%.

Cardinal Health Company 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.