Wedge Capital Management L L P NC Has $28.23 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Wedge Capital Management L L P NC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 280,073 shares of the company’s stock after selling 63,718 shares during the quarter. Wedge Capital Management L L P NC owned about 0.11% of Cardinal Health worth $28,231,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CAH. Cornerstone Planning Group LLC bought a new stake in Cardinal Health in the 3rd quarter valued at $26,000. BKM Wealth Management LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Cardinal Health during the 4th quarter valued at about $36,000. Headlands Technologies LLC bought a new position in Cardinal Health in the third quarter worth approximately $47,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in Cardinal Health in the fourth quarter worth approximately $59,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH traded down $5.36 during trading on Monday, hitting $102.83. The stock had a trading volume of 5,287,241 shares, compared to its average volume of 2,274,301. The company has a market capitalization of $25.01 billion, a PE ratio of 40.06, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04. The stock has a 50 day simple moving average of $109.59 and a two-hundred day simple moving average of $104.41.

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

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.95%. Cardinal Health’s payout ratio is 78.74%.

Analysts Set New Price Targets

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

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.