LSV Asset Management Sells 21,602 Shares of Cardinal Health, Inc. (NYSE:CAH)

LSV Asset Management cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,488,290 shares of the company’s stock after selling 21,602 shares during the period. LSV Asset Management owned 1.02% of Cardinal Health worth $250,820,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. lifted its stake in Cardinal Health by 223.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,778 shares of the company’s stock worth $482,000 after purchasing an additional 3,302 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Cardinal Health in the fourth quarter worth $991,000. Los Angeles Capital Management LLC boosted its stake in Cardinal Health by 76.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 78,791 shares of the company’s stock valued at $7,942,000 after buying an additional 34,204 shares during the period. Natixis Advisors L.P. grew its position in Cardinal Health by 6.1% during the fourth quarter. Natixis Advisors L.P. now owns 341,154 shares of the company’s stock worth $34,388,000 after buying an additional 19,630 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Cardinal Health by 1.0% in the 4th quarter. First Horizon Advisors Inc. now owns 22,390 shares of the company’s stock worth $2,257,000 after acquiring an additional 213 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CAH shares. SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Robert W. Baird cut their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Finally, Evercore ISI increased their target price on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.79.

Cardinal Health Stock Performance

CAH traded down $4.07 on Friday, hitting $98.91. 3,446,183 shares of the company were exchanged, compared to its average volume of 2,028,678. The firm has a fifty day simple moving average of $109.10 and a two-hundred day simple moving average of $105.09. The stock has a market capitalization of $24.06 billion, a PE ratio of 43.96, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. Cardinal Health, Inc. has a 12 month low of $77.56 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.74 earnings per share. On average, equities analysts expect that Cardinal Health, Inc. will post 7.34 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 88.89%.

Cardinal Health 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.