Martingale Asset Management L P Sells 25,524 Shares of Cardinal Health, Inc. (NYSE:CAH)

Martingale Asset Management L P lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 15.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 139,548 shares of the company’s stock after selling 25,524 shares during the period. Martingale Asset Management L P owned approximately 0.06% of Cardinal Health worth $15,423,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vinva Investment Management Ltd lifted its stake in Cardinal Health by 232.9% in the 3rd quarter. Vinva Investment Management Ltd now owns 10,790 shares of the company’s stock valued at $1,185,000 after purchasing an additional 7,549 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Cardinal Health by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 10,637 shares of the company’s stock worth $1,176,000 after buying an additional 1,200 shares during the period. National Wealth Management Group LLC acquired a new stake in shares of Cardinal Health during the third quarter worth $903,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cardinal Health in the third quarter worth $1,691,000. Finally, Avestar Capital LLC grew its holdings in Cardinal Health by 16.0% in the third quarter. Avestar Capital LLC now owns 2,395 shares of the company’s stock worth $265,000 after purchasing an additional 330 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $122.63 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The stock has a market cap of $29.68 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.53 and a beta of 0.60. The stock has a 50-day moving average of $114.51 and a two-hundred day moving average of $106.41.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. Analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Mizuho boosted their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Evercore ISI boosted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health 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.