Concurrent Investment Advisors LLC Lowers Position in Cardinal Health, Inc. (NYSE:CAH)

Concurrent Investment Advisors LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,779 shares of the company’s stock after selling 1,696 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Cardinal Health were worth $1,038,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CAH. State Street Corp boosted its holdings in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after acquiring an additional 627,253 shares during the period. Two Sigma Advisers LP boosted its holdings in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after acquiring an additional 346,362 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after acquiring an additional 333,095 shares during the period. Worldquant Millennium Advisors LLC boosted its holdings in Cardinal Health by 77.3% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock valued at $65,539,000 after acquiring an additional 258,541 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after acquiring an additional 191,568 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $138.40.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $126.96 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The firm has a market capitalization of $30.67 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The stock’s 50-day simple moving average is $123.62 and its 200-day simple moving average is $117.21.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Cardinal Health Company 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.