Twin Capital Management Inc. Trims Holdings in Cardinal Health, Inc. (NYSE:CAH)

Twin Capital Management Inc. cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,666 shares of the company’s stock after selling 234 shares during the quarter. Twin Capital Management Inc.’s holdings in Cardinal Health were worth $1,781,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. State Street Corp grew its position in shares of Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after purchasing an additional 457,777 shares in the last quarter. Invesco Ltd. grew its position in Cardinal Health by 9.0% during the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock worth $350,748,000 after buying an additional 511,826 shares in the last quarter. Geode Capital Management LLC grew its position in Cardinal Health by 0.5% during the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock worth $406,560,000 after buying an additional 28,250 shares in the last quarter. Morgan Stanley grew its position in Cardinal Health by 3.6% during the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock worth $353,155,000 after buying an additional 161,667 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in 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 buying an additional 1,862,291 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH stock opened at $106.00 on Friday. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The business’s 50 day moving average price is $109.53 and its two-hundred day moving average price is $104.03. The company has a market capitalization of $25.78 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 1.03 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same quarter in the prior year, the business earned $1.32 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors 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 annualized dividend and a dividend yield of 1.89%. Cardinal Health’s payout ratio is currently 78.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAH shares. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Finally, SVB Leerink began coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health 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.