Arizona State Retirement System Cuts Stake in Cardinal Health, Inc. (CAH)

Arizona State Retirement System Cuts Stake in Cardinal Health, Inc. (CAH)

Arizona State Retirement System cut its position in Cardinal Health, Inc. (NYSE:CAH) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 108,607 shares of the company’s stock after selling 1,700 shares during the period. Arizona State Retirement System’s holdings in Cardinal Health were worth $8,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. BTC Capital Management Inc. increased its position in Cardinal Health by 3.1% in the second quarter. BTC Capital Management Inc. now owns 34,981 shares of the company’s stock worth $2,730,000 after buying an additional 1,040 shares during the period. BB&T Corp increased its position in shares of Cardinal Health by 13.1% in the second quarter. BB&T Corp now owns 38,563 shares of the company’s stock worth $3,008,000 after buying an additional 4,454 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Cardinal Health by 25.6% in the second quarter. Wedge Capital Management L L P NC now owns 622,734 shares of the company’s stock worth $48,579,000 after buying an additional 126,892 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Cardinal Health by 13.6% in the second quarter. Sequoia Financial Advisors LLC now owns 28,116 shares of the company’s stock worth $2,193,000 after buying an additional 3,370 shares during the last quarter. Finally, CAM Group Holding A S increased its position in shares of Cardinal Health by 39.2% in the second quarter. CAM Group Holding A S now owns 28,400 shares of the company’s stock worth $2,215,000 after buying an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 85.48% of the company’s stock.

Cardinal Health, Inc. (NYSE:CAH) opened at 72.47 on Friday. Cardinal Health, Inc. has a 52-week low of $62.70 and a 52-week high of $87.85. The firm’s 50-day moving average is $73.92 and its 200 day moving average is $76.22. The stock has a market capitalization of $23.19 billion, a PE ratio of 17.54 and a beta of 0.72.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, January 15th. Shareholders of record on Tuesday, January 3rd were paid a dividend of $0.4489 per share. The ex-dividend date was Thursday, December 29th. This represents a $1.80 annualized dividend and a yield of 2.48%. Cardinal Health’s dividend payout ratio is 43.58%.

A number of equities analysts have commented on the company. Vetr downgraded Cardinal Health from a “buy” rating to a “hold” rating and set a $76.99 target price for the company. in a research note on Tuesday, January 3rd. Leerink Swann restated an “outperform” rating and issued a $80.00 target price (down from $95.00) on shares of Cardinal Health in a research note on Wednesday, November 2nd. Barclays PLC set a $88.00 target price on Cardinal Health and gave the company a “buy” rating in a research note on Monday, November 14th. Mizuho downgraded Cardinal Health from a “buy” rating to a “neutral” rating and set a $79.00 target price for the company. in a research note on Tuesday, January 3rd. Finally, Robert W. Baird cut Cardinal Health from an “outperform” rating to a “neutral” rating and cut their price target for the company from $92.00 to $82.00 in a report on Friday, October 28th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $89.33.

In other Cardinal Health news, Chairman George S. Barrett sold 217,995 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $71.29, for a total transaction of $15,540,863.55. Following the sale, the chairman now directly owns 682,226 shares of the company’s stock, valued at $48,635,891.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.94% of the stock is currently owned by corporate insiders.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

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