Legacy Capital Group California Inc. Has $1.07 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Legacy Capital Group California Inc. lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,655 shares of the company’s stock after selling 2,540 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Cardinal Health were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. lifted its position in shares of Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares during the last quarter. Northern Trust Corp boosted its position in Cardinal Health by 0.9% during the third quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock worth $290,026,000 after purchasing an additional 28,412 shares during the period. Pacer Advisors Inc. grew its holdings in Cardinal Health by 17.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock valued at $264,052,000 after purchasing an additional 389,431 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Cardinal Health by 0.8% in the third quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock valued at $216,749,000 after purchasing an additional 19,287 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of 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 worth $152,816,000 after buying an additional 823,520 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded up $1.59 on Thursday, hitting $98.70. The stock had a trading volume of 1,940,780 shares, compared to its average volume of 2,245,140. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The firm’s 50 day moving average price is $106.96 and its 200-day moving average price is $105.40. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of 43.62, a price-to-earnings-growth ratio of 1.11 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the company earned $1.74 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s payout ratio is currently 88.89%.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Argus cut their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird dropped their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Friday, May 10th. Finally, UBS Group boosted 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.57.

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.