New York Life Investment Management LLC Sells 968 Shares of Cardinal Health, Inc. (NYSE:CAH)

New York Life Investment Management LLC lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 38,689 shares of the company’s stock after selling 968 shares during the quarter. New York Life Investment Management LLC’s holdings in Cardinal Health were worth $3,900,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC purchased a new stake in shares of Cardinal Health during the third quarter valued at $26,000. BKM Wealth Management LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $30,000. Hexagon Capital Partners LLC increased its position in shares of Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health during the 4th quarter worth $36,000. Finally, Headlands Technologies LLC purchased a new position in shares of Cardinal Health during the third quarter valued at $47,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of several recent research reports. SVB Leerink assumed coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Wells Fargo & Company cut their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Finally, UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $105.79.

Cardinal Health Stock Down 4.0 %

CAH opened at $98.91 on Friday. The firm’s 50-day moving average price is $109.10 and its 200-day moving average price is $105.01. The company has a market cap of $24.06 billion, a P/E ratio of 43.96, a price-to-earnings-growth ratio of 0.99 and a beta of 0.71. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.74 earnings per share. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 2.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

About Cardinal Health

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.