Cardinal Health, Inc. (NYSE:CAH) Position Decreased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,583 shares of the company’s stock after selling 10,755 shares during the quarter. Brandywine Global Investment Management LLC owned 0.06% of Cardinal Health worth $17,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at $698,000. Schroder Investment Management Group raised its position in shares of Cardinal Health by 31.6% during the fourth quarter. Schroder Investment Management Group now owns 70,191 shares of the company’s stock worth $8,277,000 after purchasing an additional 16,845 shares during the period. Cambridge Financial Group Inc. purchased a new stake in shares of Cardinal Health during the fourth quarter valued at $9,150,000. Allstate Corp acquired a new position in shares of Cardinal Health in the 4th quarter valued at $844,000. Finally, DnB Asset Management AS increased its stake in Cardinal Health by 9.6% in the 4th quarter. DnB Asset Management AS now owns 43,475 shares of the company’s stock worth $5,142,000 after purchasing an additional 3,798 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.2 %

Cardinal Health stock opened at $136.43 on Monday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $137.18. The firm’s fifty day simple moving average is $128.36 and its 200-day simple moving average is $120.86. The company has a market capitalization of $32.96 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.48%. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analyst Weigh In

Several brokerages have commented on CAH. Mizuho started coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Argus set a $148.00 target price on shares of Cardinal Health in a research note on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

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.