New York Life Investment Management LLC Trims Position in Cardinal Health, Inc. (NYSE:CAH)

New York Life Investment Management LLC trimmed its stake in Cardinal Health, Inc. (NYSE:CAH) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,047 shares of the company’s stock after selling 121 shares during the period. New York Life Investment Management LLC’s holdings in Cardinal Health were worth $4,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares during the period. Geode Capital Management LLC raised its position in Cardinal Health by 0.7% during 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 in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after buying an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after buying an additional 33,388 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $129.71 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The company has a market cap of $31.33 billion, a PE ratio of 24.20, a P/E/G ratio of 1.49 and a beta of 0.63. The business has a 50-day simple moving average of $124.74 and a two-hundred day simple moving average of $118.16.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research reports. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Citigroup increased their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Barclays increased 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. Finally, Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $139.36.

About Cardinal Health

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.