Te Ahumairangi Investment Management Ltd Has $3.52 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Te Ahumairangi Investment Management Ltd cut its position in Cardinal Health, Inc. (NYSE:CAH) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,716 shares of the company’s stock after selling 8,100 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Cardinal Health were worth $3,515,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after acquiring an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp grew its position in Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares during the period. Geode Capital Management LLC grew its position in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the period. Consolidated Planning Corp increased its stake in Cardinal Health by 40.0% during the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock valued at $1,056,000 after purchasing an additional 2,552 shares in the last quarter. Finally, Flputnam Investment Management Co. raised its holdings in Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after buying an additional 3,148 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $137.20 on Wednesday. The company has a market capitalization of $33.14 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The company’s 50-day moving average is $128.78 and its 200 day moving average is $121.20. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $138.62.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Analysts Set New Price Targets

CAH has been the subject of several recent research reports. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Argus set a $148.00 target price on Cardinal Health in a report on Tuesday, February 4th. Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.14.

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.