Counterpoint Mutual Funds LLC Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Counterpoint Mutual Funds LLC trimmed its stake in Cardinal Health, Inc. (NYSE:CAH) by 4.0% during the first quarter, Holdings Channel.com reports. The fund owned 3,513 shares of the company’s stock after selling 147 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Cardinal Health were worth $393,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Cardinal Health in the fourth quarter valued at approximately $258,499,000. Ameriprise Financial Inc. increased its position in shares of Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after acquiring an additional 1,862,291 shares during the period. California Public Employees Retirement System boosted its holdings in Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after purchasing an additional 823,520 shares during the period. International Assets Investment Management LLC acquired a new position in Cardinal Health during the 4th quarter worth $464,800,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Cardinal Health by 1,941.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after purchasing an additional 435,722 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the subject of a number of recent research reports. Argus decreased their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company dropped their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Evercore ISI increased their price objective on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Finally, Robert W. Baird decreased their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Price Performance

Shares of CAH stock traded down $2.04 during midday trading on Wednesday, hitting $101.09. The company had a trading volume of 2,106,002 shares, compared to its average volume of 2,203,579. The company’s 50 day simple moving average is $100.31 and its 200 day simple moving average is $104.65. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04. The stock has a market cap of $24.62 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 1.17 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same period last year, the business posted $1.74 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. 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.