Cairn Investment Group Inc. Sells 577 Shares of Cardinal Health, Inc. (NYSE:CAH)

Cairn Investment Group Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,762 shares of the company’s stock after selling 577 shares during the period. Cairn Investment Group Inc.’s holdings in Cardinal Health were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board raised its stake in shares of Cardinal Health by 88.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 9,437 shares of the company’s stock valued at $928,000 after purchasing an additional 4,435 shares during the period. Marshall Wace LLP acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at about $1,979,000. Creative Planning raised its stake in shares of Cardinal Health by 0.7% in the 2nd quarter. Creative Planning now owns 41,764 shares of the company’s stock valued at $4,106,000 after purchasing an additional 308 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Cardinal Health by 3.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 5,503 shares of the company’s stock valued at $541,000 after purchasing an additional 189 shares during the period. Finally, Ariadne Wealth Management LP acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at about $86,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CAH shares. Morgan Stanley lifted their target price on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Barclays lifted their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on Cardinal Health from $127.00 to $135.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.21.

Cardinal Health Stock Down 0.2 %

Shares of NYSE:CAH opened at $127.53 on Thursday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $131.29. The stock has a market cap of $30.86 billion, a PE ratio of 24.81, a P/E/G ratio of 1.57 and a beta of 0.63. The business has a 50 day moving average of $121.90 and a 200-day moving average of $113.75.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Equities research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

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.