Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Man Group plc

Man Group plc reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 786,290 shares of the company’s stock after selling 43,541 shares during the quarter. Man Group plc owned about 0.33% of Cardinal Health worth $92,995,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $26,000. Promus Capital LLC acquired a new stake in Cardinal Health in the fourth quarter worth approximately $30,000. Bellwether Advisors LLC bought a new position in Cardinal Health during the 4th quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health during the 4th quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Cardinal Health in the 4th quarter worth $36,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Robert W. Baird upped their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Mizuho raised their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Finally, Bank of America increased their target price on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $148.28 on Wednesday. The firm has a 50 day simple moving average of $135.50 and a 200 day simple moving average of $126.92. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $154.07. The company has a market cap of $35.39 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 31.83%.

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.