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

Victory Capital Management Inc. lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 14.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 598,362 shares of the company’s stock after selling 98,787 shares during the period. Victory Capital Management Inc.’s holdings in Cardinal Health were worth $60,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in shares of Cardinal Health by 9.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock worth $7,301,000 after acquiring an additional 7,174 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Cardinal Health by 5.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,173 shares of the company’s stock valued at $3,227,000 after purchasing an additional 2,024 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Cardinal Health by 3.8% in the third quarter. Raymond James & Associates now owns 255,118 shares of the company’s stock valued at $22,149,000 after purchasing an additional 9,277 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Cardinal Health by 13.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 99,296 shares of the company’s stock valued at $8,621,000 after purchasing an additional 11,451 shares during the period. Finally, Independent Advisor Alliance lifted its stake in shares of Cardinal Health by 11.9% during the 3rd quarter. Independent Advisor Alliance now owns 13,042 shares of the company’s stock worth $1,132,000 after buying an additional 1,384 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 4.0 %

CAH stock opened at $98.91 on Friday. The company has a market cap of $24.06 billion, a PE ratio of 43.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71. The business has a 50-day simple moving average of $109.10 and a 200 day simple moving average of $105.01. 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 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during 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%. Cardinal Health’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.74 earnings per share. On average, analysts anticipate that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 88.89%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CAH shares. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Robert W. Baird decreased their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.79.

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.