Lbp Am Sa Has $2.36 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Lbp Am Sa decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 34.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 21,042 shares of the company’s stock after selling 10,974 shares during the period. Lbp Am Sa’s holdings in Cardinal Health were worth $2,355,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its holdings in Cardinal Health by 19.1% during the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after purchasing an additional 598,002 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Cardinal Health by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after buying an additional 14,030 shares during the period. Norges Bank bought a new position in Cardinal Health during the fourth quarter worth about $258,499,000. California Public Employees Retirement System grew its stake in Cardinal Health by 118.9% in the fourth 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. Finally, Brandes Investment Partners LP increased its holdings in shares of Cardinal Health by 2.4% in the fourth quarter. Brandes Investment Partners LP now owns 1,221,191 shares of the company’s stock worth $123,096,000 after acquiring an additional 28,042 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CAH shares. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Argus cut their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Evercore ISI decreased their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a report on Tuesday, July 9th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Robert W. Baird raised their price target on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Stock Up 2.5 %

Shares of NYSE CAH traded up $2.56 during mid-day trading on Thursday, reaching $103.39. 1,732,133 shares of the company were exchanged, compared to its average volume of 2,148,975. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The stock has a market capitalization of $25.18 billion, a P/E ratio of 45.07, a P/E/G ratio of 1.11 and a beta of 0.61. The company’s 50-day simple moving average is $98.19 and its 200-day simple moving average is $103.48.

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

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, July 1st. This represents a $2.02 annualized dividend and a yield of 1.96%. Cardinal Health’s payout ratio is presently 89.78%.

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.