Martingale Asset Management L P Decreases Stock Holdings in Cardinal Health, Inc. $CAH

Martingale Asset Management L P decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,389 shares of the company’s stock after selling 11,273 shares during the quarter. Martingale Asset Management L P’s holdings in Cardinal Health were worth $18,582,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Cardinal Health by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after purchasing an additional 247,667 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock valued at $1,069,005,000 after purchasing an additional 205,539 shares during the period. Invesco Ltd. grew its position in shares of Cardinal Health by 14.7% during the 3rd quarter. Invesco Ltd. now owns 3,483,207 shares of the company’s stock valued at $546,724,000 after acquiring an additional 445,425 shares during the period. Norges Bank acquired a new stake in shares of Cardinal Health in the second quarter worth $584,420,000. Finally, Legal & General Group Plc boosted its holdings in shares of Cardinal Health by 2.0% in the second quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after acquiring an additional 45,812 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 1.8%

NYSE CAH opened at $219.24 on Friday. The stock has a 50-day simple moving average of $216.60 and a 200 day simple 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 company has a market capitalization of $51.59 billion, a PE ratio of 31.55, a P/E/G 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 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period last year, the firm earned $1.93 earnings per share. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently commented on CAH. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Barclays increased their price objective on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Leerink Partners reaffirmed an “outperform” rating and set a $275.00 target price on shares of Cardinal Health in a report on Monday. Finally, Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Profile

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.