Nisa Investment Advisors LLC Sells 16,350 Shares of Cardinal Health, Inc. (NYSE:CAH)

Nisa Investment Advisors LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,569 shares of the company’s stock after selling 16,350 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cardinal Health were worth $8,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Acadian Asset Management LLC raised its position in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Cardinal Health by 0.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after buying an additional 14,030 shares during the last quarter. Norges Bank purchased a new stake in Cardinal Health in the fourth quarter worth approximately $258,499,000. California Public Employees Retirement System lifted its holdings in shares of Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after acquiring an additional 823,520 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of Cardinal Health by 2.4% in the 4th quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock valued at $123,096,000 after purchasing an additional 28,042 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CAH shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $115.00 to $119.00 and gave the stock a “hold” rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday. UBS Group increased their price objective on Cardinal Health from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird raised their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Morgan Stanley boosted their price objective on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a research report on Thursday. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $117.45.

Cardinal Health Stock Down 0.1 %

Shares of Cardinal Health stock traded down $0.12 during trading hours on Monday, reaching $109.73. 949,116 shares of the stock traded hands, compared to its average volume of 2,147,289. The company has a 50 day moving average price of $99.38 and a 200 day moving average price of $103.17. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 48.36, a P/E/G ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The company’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.506 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.84%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 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.