Assenagon Asset Management S.A. Sells 477 Shares of Cardinal Health, Inc. (NYSE:CAH)

Assenagon Asset Management S.A. lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,453 shares of the company’s stock after selling 477 shares during the period. Assenagon Asset Management S.A.’s holdings in Cardinal Health were worth $1,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after buying an additional 42,082 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cardinal Health by 2.3% in the 3rd 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 stake in shares of Cardinal Health in the 3rd quarter valued at $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Cardinal Health during the 3rd quarter valued at $1,691,000. Finally, National Wealth Management Group LLC purchased a new position in Cardinal Health in the 3rd quarter worth $903,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group raised their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Morgan Stanley boosted their price objective on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Trading Up 0.5 %

Shares of CAH opened at $129.38 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $129.68. The firm’s 50-day moving average price is $121.15 and its 200-day moving average price is $112.70. The firm has a market capitalization of $31.31 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.55 and a beta of 0.63.

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

Cardinal Health Cuts Dividend

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

Cardinal Health Company 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.