Mutual of America Capital Management LLC Trims Position in Cardinal Health, Inc. (NYSE:CAH)

Mutual of America Capital Management LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,089 shares of the company’s stock after selling 2,640 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cardinal Health were worth $3,335,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAH. Cornerstone Planning Group LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth about $26,000. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $30,000. Retirement Group LLC increased its position in shares of Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after purchasing an additional 431 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth about $41,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth about $47,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAH. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. UBS Group lifted their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. Finally, SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Performance

Shares of CAH opened at $106.52 on Thursday. The stock has a 50-day simple moving average of $109.46 and a 200-day simple moving average of $104.02. The stock has a market capitalization of $25.91 billion, a PE ratio of 41.94, a PEG ratio of 1.03 and a beta of 0.68. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 EPS. Analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

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.