Cardinal Health, Inc. $CAH Stake Trimmed by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 92.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,533 shares of the company’s stock after selling 18,001 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Cardinal Health were worth $241,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Cardinal Health in the second quarter worth approximately $584,420,000. Barclays PLC lifted its position in shares of Cardinal Health by 109.3% in the 3rd quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after acquiring an additional 827,446 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after acquiring an additional 730,209 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock worth $352,165,000 after purchasing an additional 707,495 shares during the period. Finally, Voya Investment Management LLC grew its position in Cardinal Health by 298.3% during the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock worth $128,978,000 after purchasing an additional 615,398 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Argus raised their target price on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Robert W. Baird set a $252.00 price target on Cardinal Health in a report on Friday, February 6th. Wells Fargo & Company upped their price target on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Up 1.8%

Shares of NYSE:CAH opened at $219.24 on Friday. The firm has a fifty day moving average of $216.60 and a two-hundred day moving average of $191.39. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $233.60. The firm has a market capitalization of $51.59 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 1.39 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same period in the prior year, the business posted $1.93 earnings per share. Cardinal Health’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.