Bridgewater Advisors Inc. Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Bridgewater Advisors Inc. reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,502 shares of the company’s stock after selling 157 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Cardinal Health were worth $2,470,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Cardinal Health by 118.9% during 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 acquiring an additional 823,520 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth approximately $464,800,000. Deutsche Bank AG raised its holdings in shares of Cardinal Health by 64.9% in the 3rd quarter. Deutsche Bank AG now owns 1,027,670 shares of the company’s stock worth $89,222,000 after purchasing an additional 404,609 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Cardinal Health by 17.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after purchasing an additional 389,431 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of several research reports. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Wells Fargo & Company cut their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday. Finally, SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $102.93.

Cardinal Health Stock Performance

NYSE CAH traded up $0.12 on Tuesday, hitting $103.03. The stock had a trading volume of 2,456,082 shares, compared to its average volume of 2,250,772. The firm has a 50-day moving average of $109.48 and a 200-day moving average of $104.93. The company has a market capitalization of $25.06 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The company had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $1.32 earnings per share. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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

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.