Wedge Capital Management L L P NC Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Wedge Capital Management L L P NC lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,768 shares of the company’s stock after selling 37,092 shares during the period. Wedge Capital Management L L P NC owned 0.10% of Cardinal Health worth $28,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Eastern Bank purchased a new position in shares of Cardinal Health in the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC boosted its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Hara Capital LLC purchased a new position in Cardinal Health in the third quarter worth $31,000. AM Squared Ltd acquired a new position in shares of Cardinal Health during the third quarter worth $33,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Citigroup increased their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Stock Down 0.6 %

Cardinal Health stock opened at $126.27 on Friday. The business’s 50-day moving average price is $120.75 and its 200 day moving average price is $111.81. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $127.27.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the company earned $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.