LSV Asset Management Sells 77,000 Shares of Cardinal Health, Inc. (NYSE:CAH)

LSV Asset Management trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,411,290 shares of the company’s stock after selling 77,000 shares during the quarter. LSV Asset Management owned 0.99% of Cardinal Health worth $269,823,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Aaron Wealth Advisors LLC grew its holdings in Cardinal Health by 1.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after acquiring an additional 97 shares during the period. Schechter Investment Advisors LLC lifted its position in Cardinal Health by 4.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after buying an additional 98 shares in the last quarter. J. W. Coons Advisors LLC lifted its position in Cardinal Health by 0.6% during the fourth quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after buying an additional 100 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC lifted its position in Cardinal Health by 5.0% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $234,000 after buying an additional 100 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its position in Cardinal Health by 3.2% during the first quarter. Checchi Capital Advisers LLC now owns 3,758 shares of the company’s stock worth $421,000 after buying an additional 115 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $0.31 during trading on Friday, hitting $94.15. The company had a trading volume of 1,891,044 shares, compared to its average volume of 2,198,815. The business’s 50-day moving average is $98.61 and its 200 day moving average is $104.12. Cardinal Health, Inc. has a 52 week low of $85.11 and a 52 week high of $116.04. The company has a market cap of $22.93 billion, a P/E ratio of 41.98, a PEG ratio of 1.05 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same period in the previous year, the company posted $1.74 EPS. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.5056 dividend. The ex-dividend date is Monday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a yield of 2.15%. Cardinal Health’s dividend payout ratio is currently 89.78%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CAH shares. Wells Fargo & Company cut their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Evercore ISI cut their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday. Argus lowered their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Robert W. Baird upped their target price on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.00.

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.