Cardinal Health, Inc. $CAH Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 17.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 791,274 shares of the company’s stock after selling 162,634 shares during the period. California Public Employees Retirement System owned about 0.33% of Cardinal Health worth $124,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. increased its holdings in Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. American Capital Advisory LLC grew its position in shares of Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after buying an additional 208 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in shares of Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after buying an additional 71 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in shares of Cardinal Health in the third quarter worth $35,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $216.95 on Monday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60. The company has a fifty day moving average price of $216.83 and a two-hundred day moving average price of $192.50. The company has a market cap of $51.05 billion, a PE ratio of 31.22, a P/E/G ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last issued its 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 company had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 18.8% compared to the same quarter last year. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed 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 is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio is 29.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a research report on Friday, February 6th. Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research note on Monday, March 9th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Finally, Argus lifted their price target on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.67.

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.