Sector Gamma AS Has $16.56 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Sector Gamma AS cut its position in Cardinal Health, Inc. (NYSE:CAH) by 37.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 164,305 shares of the company’s stock after selling 99,831 shares during the period. Cardinal Health comprises about 4.0% of Sector Gamma AS’s portfolio, making the stock its 10th biggest holding. Sector Gamma AS’s holdings in Cardinal Health were worth $16,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CAH. Ameriprise Financial Inc. boosted its stake in Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after purchasing an additional 1,862,291 shares during the period. California Public Employees Retirement System boosted its stake in Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after purchasing an additional 823,520 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Cardinal Health during the 4th quarter valued at $464,800,000. Deutsche Bank AG lifted its position in shares of Cardinal Health by 64.9% during the 3rd quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock valued at $89,222,000 after acquiring an additional 404,609 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of Cardinal Health by 17.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after acquiring an additional 389,431 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 0.6 %

CAH traded down $0.60 on Friday, reaching $103.21. The stock had a trading volume of 1,399,916 shares, compared to its average volume of 1,705,735. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The firm has a 50-day moving average of $109.51 and a 200-day moving average of $104.67. The company has a market capitalization of $25.10 billion, a price-to-earnings ratio of 40.63, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAH. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Barclays began coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. UBS Group upped 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. SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. Finally, Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $103.07.

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.