California State Teachers Retirement System Sells 11,455 Shares of Cardinal Health, Inc. (NYSE:CAH)

California State Teachers Retirement System cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 454,689 shares of the company’s stock after selling 11,455 shares during the period. California State Teachers Retirement System’s holdings in Cardinal Health were worth $30,319,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CAH. BOK Financial Private Wealth Inc. bought a new stake in Cardinal Health during the 3rd quarter worth approximately $28,000. Capital Advisors Ltd. LLC grew its position in Cardinal Health by 29.5% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 589 shares of the company’s stock worth $39,000 after acquiring an additional 134 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Cardinal Health by 422.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 642 shares of the company’s stock worth $43,000 after acquiring an additional 519 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Cardinal Health by 102.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 716 shares of the company’s stock worth $48,000 after acquiring an additional 363 shares during the last quarter. Finally, Allworth Financial LP grew its position in Cardinal Health by 29.3% during the 3rd quarter. Allworth Financial LP now owns 776 shares of the company’s stock worth $52,000 after acquiring an additional 176 shares during the last quarter. 88.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CAH shares. Robert W. Baird upgraded Cardinal Health from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $87.00 to $94.00 in a research report on Friday, February 3rd. Credit Suisse Group increased their price objective on Cardinal Health from $89.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, February 3rd. UBS Group increased their price objective on Cardinal Health from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Morgan Stanley increased their price objective on Cardinal Health from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Finally, StockNews.com initiated coverage on Cardinal Health in a research report on Thursday. They issued a “strong-buy” rating on the stock. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.64.

Cardinal Health Trading Down 1.3 %

Shares of Cardinal Health stock opened at $69.62 on Friday. The company has a market capitalization of $17.94 billion, a PE ratio of 12.77, a PEG ratio of 1.11 and a beta of 0.76. Cardinal Health, Inc. has a 12 month low of $49.70 and a 12 month high of $81.57. The stock’s fifty day simple moving average is $76.05 and its 200 day simple moving average is $74.87.

Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.13 by $0.19. The business had revenue of $51.47 billion for the quarter, compared to the consensus estimate of $50.03 billion. Cardinal Health had a negative return on equity of 101.28% and a negative net margin of 0.66%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. Analysts predict that Cardinal Health, Inc. will post 5.42 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 15th. Investors of record on Monday, April 3rd will be paid a dividend of $0.4957 per share. This represents a $1.98 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Friday, March 31st. Cardinal Health’s payout ratio is presently 36.33%.

About Cardinal Health

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.