Xponance Inc. Sells 1,672 Shares of Cardinal Health, Inc. (NYSE:CAH)

Xponance Inc. decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,043 shares of the company’s stock after selling 1,672 shares during the period. Xponance Inc.’s holdings in Cardinal Health were worth $5,851,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Cardinal Health during the fourth quarter worth about $220,230,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $215,893,000. Ameriprise Financial Inc. raised its position in shares of Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after purchasing an additional 1,862,291 shares during the period. Nomura Holdings Inc. raised its position in shares of Cardinal Health by 677.5% during the first quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock worth $101,986,000 after purchasing an additional 1,177,066 shares during the period. Finally, Man Group plc raised its position in shares of Cardinal Health by 68.3% during the fourth quarter. Man Group plc now owns 1,477,702 shares of the company’s stock worth $113,591,000 after purchasing an additional 599,698 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.1 %

CAH stock opened at $108.19 on Friday. The business has a 50 day moving average price of $109.59 and a two-hundred day moving average price of $104.18. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 1.02 and a beta of 0.68. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $1.32 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were paid a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. Cardinal Health’s dividend payout ratio is 78.74%.

Analyst Ratings Changes

CAH has been the topic of a number of research analyst reports. Barclays initiated coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. UBS Group raised their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, SVB Leerink began coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

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.