Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 31.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 79,225 shares of the company’s stock after selling 35,985 shares during the period. Artemis Investment Management LLP’s holdings in Cardinal Health were worth $8,861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $25,000. Raleigh Capital Management Inc. grew its position in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. BKM Wealth Management LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $30,000. Hexagon Capital Partners LLC grew its position in Cardinal Health by 53.6% during the 4th 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. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Cardinal Health during the 4th quarter worth about $36,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Down 1.3 %

Shares of Cardinal Health stock opened at $98.32 on Friday. The firm has a market capitalization of $23.95 billion, a PE ratio of 43.70, a P/E/G ratio of 1.15 and a beta of 0.64. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The firm’s 50-day moving average price is $99.88 and its 200 day moving average price is $104.53.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results 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 firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. Cardinal Health’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.74 EPS. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a yield of 2.06%. Cardinal Health’s dividend payout ratio (DPR) is currently 88.89%.

Wall Street Analyst Weigh In

CAH has been the topic of several analyst reports. Evercore ISI increased their price target on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Robert W. Baird lowered their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Argus lowered their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Wells Fargo & Company lowered their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 24th. One analyst has rated the stock with a sell rating, four have assigned 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, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

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.