Nisa Investment Advisors LLC Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Nisa Investment Advisors LLC decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 78,099 shares of the company’s stock after selling 20,290 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Cardinal Health were worth $9,237,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the period. CHURCHILL MANAGEMENT Corp boosted its holdings in shares of Cardinal Health by 1.5% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after acquiring an additional 3,576 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after acquiring an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC purchased a new position in shares of Cardinal Health during the third quarter worth approximately $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $1,691,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CAH shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Morgan Stanley raised their price target on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Stock Up 0.5 %

Shares of CAH opened at $129.38 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $129.68. The company has a 50-day simple moving average of $121.15 and a 200-day simple moving average of $112.70. The company has a market capitalization of $31.31 billion, a PE ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

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.