Trexquant Investment LP decreased its stake in Cardinal Health Inc (NYSE:CAH) by 53.8% in the 1st quarter, HoldingsChannel reports. The fund owned 63,390 shares of the company’s stock after selling 73,958 shares during the quarter. Trexquant Investment LP’s holdings in Cardinal Health were worth $3,052,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Vanguard Group Inc grew its holdings in Cardinal Health by 22.0% during the third quarter. Vanguard Group Inc now owns 28,021,950 shares of the company’s stock worth $1,513,186,000 after purchasing an additional 5,058,369 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Cardinal Health by 4,912.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,698,476 shares of the company’s stock worth $105,000 after purchasing an additional 4,604,746 shares during the period. Norges Bank bought a new position in Cardinal Health during the fourth quarter worth about $133,685,000. BlackRock Inc. grew its holdings in Cardinal Health by 8.9% during the fourth quarter. BlackRock Inc. now owns 26,135,772 shares of the company’s stock worth $1,165,655,000 after purchasing an additional 2,134,377 shares during the period. Finally, American Century Companies Inc. grew its holdings in Cardinal Health by 15.9% during the fourth quarter. American Century Companies Inc. now owns 5,855,367 shares of the company’s stock worth $261,149,000 after purchasing an additional 804,399 shares during the period. Institutional investors own 88.54% of the company’s stock.
CAH stock traded down $0.32 during mid-day trading on Wednesday, hitting $44.32. 73,608 shares of the company were exchanged, compared to its average volume of 3,121,206. The company has a quick ratio of 0.54, a current ratio of 1.07 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $13.28 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 1.39 and a beta of 1.20. Cardinal Health Inc has a 1-year low of $42.01 and a 1-year high of $58.31.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.4811 per share. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from Cardinal Health’s previous quarterly dividend of $0.48. This represents a $1.92 annualized dividend and a yield of 4.34%. Cardinal Health’s dividend payout ratio (DPR) is 38.20%.
A number of equities analysts recently commented on CAH shares. Zacks Investment Research upgraded Cardinal Health from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Tuesday, March 5th. Guggenheim started coverage on Cardinal Health in a report on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target for the company. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Wolfe Research started coverage on Cardinal Health in a report on Tuesday, April 2nd. They set an “underperform” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Cardinal Health presently has an average rating of “Hold” and a consensus price target of $56.20.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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