Victory Capital Management Inc. Sells 98,787 Shares of Cardinal Health, Inc. (NYSE:CAH)

Victory Capital Management Inc. reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,362 shares of the company’s stock after selling 98,787 shares during the period. Victory Capital Management Inc. owned 0.25% of Cardinal Health worth $60,315,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its stake in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Certuity LLC bought a new position in shares of Cardinal Health in the fourth quarter worth about $228,000. Islay Capital Management LLC increased its stake in shares of Cardinal Health by 1,081.5% in the fourth quarter. Islay Capital Management LLC now owns 10,929 shares of the company’s stock worth $1,102,000 after purchasing an additional 10,004 shares during the period. Cozad Asset Management Inc. increased its stake in shares of Cardinal Health by 4.6% in the fourth quarter. Cozad Asset Management Inc. now owns 26,642 shares of the company’s stock worth $2,686,000 after purchasing an additional 1,164 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in shares of Cardinal Health by 44.1% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,961 shares of the company’s stock worth $1,206,000 after purchasing an additional 3,660 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CAH shares. Robert W. Baird dropped their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday. Evercore ISI lifted their target price on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday. Wells Fargo & Company decreased their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $105.79.

Cardinal Health Trading Down 4.0 %

NYSE CAH opened at $98.91 on Friday. The stock’s 50 day moving average is $109.10 and its two-hundred day moving average is $105.01. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 43.96, a PEG ratio of 1.03 and a beta of 0.71. Cardinal Health, Inc. has a 1-year low of $77.56 and a 1-year high of $116.04.

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

Cardinal Health Dividend Announcement

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