Artemis Investment Management LLP Sells 35,985 Shares of Cardinal Health, Inc. (NYSE:CAH)

Artemis Investment Management LLP lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 31.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $25,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. Hexagon Capital Partners LLC lifted its stake in shares of Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the 4th quarter valued at approximately $36,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Evercore ISI raised their target price on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday, May 3rd. Wells Fargo & Company lowered their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Robert W. Baird lowered their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Argus lowered their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Stock Down 1.3 %

CAH stock opened at $98.32 on Friday. The firm has a market cap of $23.95 billion, a PE ratio of 43.70, a price-to-earnings-growth ratio of 1.15 and a beta of 0.64. The business has a 50 day moving average of $99.88 and a 200 day moving average of $104.53. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

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

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.