Twin Capital Management Inc. Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Twin Capital Management Inc. cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,980 shares of the company’s stock after selling 1,686 shares during the period. Twin Capital Management Inc.’s holdings in Cardinal Health were worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. Lake Street Advisors Group LLC bought a new stake in shares of Cardinal Health in the first quarter worth about $331,000. Arjuna Capital increased its stake in Cardinal Health by 4.0% in the 1st quarter. Arjuna Capital now owns 18,364 shares of the company’s stock worth $2,055,000 after acquiring an additional 706 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of Cardinal Health by 38.7% during the 1st quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock worth $2,148,000 after acquiring an additional 5,352 shares in the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Cardinal Health by 342.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 11,155 shares of the company’s stock valued at $1,248,000 after acquiring an additional 8,634 shares during the last quarter. Finally, Seven Eight Capital LP grew its holdings in shares of Cardinal Health by 183.4% in the first quarter. Seven Eight Capital LP now owns 64,511 shares of the company’s stock valued at $7,219,000 after purchasing an additional 41,750 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CAH. Evercore ISI decreased their price target on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Robert W. Baird increased their price target on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Wells Fargo & Company dropped their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Citigroup decreased their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Finally, Argus dropped their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

Cardinal Health Trading Up 0.9 %

Shares of CAH traded up $0.87 during trading hours on Wednesday, reaching $96.71. 1,677,336 shares of the company traded hands, compared to its average volume of 2,166,768. The stock’s fifty day moving average price is $98.07 and its 200 day moving average price is $103.69. The firm has a market cap of $23.56 billion, a price-to-earnings ratio of 42.98, a PEG ratio of 1.05 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $85.11 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 analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same period last year, the company posted $1.74 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $0.5056 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.09%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

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.