Versant Capital Management Inc Sells 403 Shares of Cardinal Health, Inc. (NYSE:CAH)

Versant Capital Management Inc cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 15.4% in the fourth quarter, Holdings Channel reports. The fund owned 2,209 shares of the company’s stock after selling 403 shares during the period. Versant Capital Management Inc’s holdings in Cardinal Health were worth $261,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Cardinal Health in the second quarter valued at about $90,440,000. State Street Corp raised its stake in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after acquiring an additional 370,181 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Cardinal Health by 230.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after purchasing an additional 333,095 shares during the last quarter. 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. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. UBS Group upped their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their target price on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $119.30 on Friday. The stock has a market cap of $28.87 billion, a PE ratio of 23.21, a PEG ratio of 1.47 and a beta of 0.63. The firm has a 50-day moving average of $118.80 and a 200-day moving average of $110.37. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. Equities research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.70%. Cardinal Health’s dividend payout ratio (DPR) is 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.