World Investment Advisors LLC Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

World Investment Advisors LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 65.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,477 shares of the company’s stock after selling 4,745 shares during the period. World Investment Advisors LLC’s holdings in Cardinal Health were worth $274,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in Cardinal Health during the 2nd quarter valued at about $90,440,000. State Street Corp grew its holdings in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after acquiring an additional 370,181 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Cardinal Health by 47.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after acquiring an additional 346,362 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after purchasing an additional 333,095 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Morgan Stanley lifted their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday. Argus raised their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $127.50.

Cardinal Health Trading Up 0.1 %

Shares of NYSE:CAH opened at $115.91 on Thursday. The stock has a 50 day moving average of $117.31 and a 200 day moving average of $108.83. The company has a market cap of $28.05 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.23.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. Equities research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.74%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Cardinal Health Company 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.