State of New Jersey Common Pension Fund D Sells 255 Shares of Cardinal Health, Inc. (NYSE:CAH)

State of New Jersey Common Pension Fund D cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,394 shares of the company’s stock after selling 255 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cardinal Health were worth $10,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. MWA Asset Management grew its holdings in shares of Cardinal Health by 2.9% during the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after purchasing an additional 95 shares in the last quarter. Huntington National Bank boosted its position in shares of Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares in the last quarter. Frazier Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Cardinal Health by 29.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after purchasing an additional 106 shares during the last quarter. Finally, Patron Partners LLC boosted its stake in Cardinal Health by 6.1% in the fourth quarter. Patron Partners LLC now owns 2,043 shares of the company’s stock valued at $242,000 after buying an additional 117 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Cardinal Health stock opened at $126.35 on Tuesday. The stock has a market capitalization of $30.52 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.49 and a beta of 0.63. The stock’s 50 day moving average price is $122.95 and its two-hundred day moving average price is $116.57. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating 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, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CAH shares. UBS Group increased their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped 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 issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.87.

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.