Cardinal Health, Inc. (NYSE:CAH) Holdings Lessened by Sector Gamma AS

Sector Gamma AS lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 37.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,305 shares of the company’s stock after selling 99,831 shares during the period. Cardinal Health makes up about 4.0% of Sector Gamma AS’s investment portfolio, making the stock its 10th largest position. Sector Gamma AS owned approximately 0.07% of Cardinal Health worth $16,562,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $209,000. Nordea Investment Management AB grew its position in shares of Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after buying an additional 61,933 shares in the last quarter. Vest Financial LLC grew its position in shares of Cardinal Health by 15.9% during the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after buying an additional 38,769 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $6,290,000. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Cardinal Health by 30.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock worth $54,618,000 after buying an additional 126,668 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE CAH traded down $0.60 during midday trading on Friday, reaching $103.21. 1,399,916 shares of the company traded hands, compared to its average volume of 1,705,735. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04. The stock has a 50-day moving average price of $109.51 and a 200 day moving average price of $104.67. The company has a market cap of $25.10 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 1.05 and a beta of 0.68.

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

Cardinal Health Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAH. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. SVB Leerink initiated coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, UBS Group lifted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.07.

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.