Johnson Investment Counsel Inc. Sells 96 Shares of Cardinal Health, Inc. (NYSE:CAH)

Johnson Investment Counsel Inc. lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,866 shares of the company’s stock after selling 96 shares during the period. Johnson Investment Counsel Inc.’s holdings in Cardinal Health were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its position in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC grew its position in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. grew its position in Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares in the last quarter. Amundi grew its position in Cardinal Health by 5.5% in the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after purchasing an additional 44,386 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Morgan Stanley raised their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Mizuho assumed coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Up 2.2 %

CAH stock opened at $126.87 on Thursday. The firm has a market cap of $30.65 billion, a P/E ratio of 23.67, a P/E/G ratio of 1.49 and a beta of 0.66. The company’s 50-day moving average price is $125.99 and its two-hundred day moving average price is $119.14. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

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

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.