New Mexico Educational Retirement Board lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,404 shares of the company's stock after selling 700 shares during the quarter. New Mexico Educational Retirement Board's holdings in Cardinal Health were worth $805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Manchester Capital Management LLC lifted its stake in Cardinal Health by 60.4% in the first quarter. Manchester Capital Management LLC now owns 494 shares of the company's stock worth $28,000 after acquiring an additional 186 shares during the period. AdvisorNet Financial Inc lifted its stake in Cardinal Health by 23.3% in the first quarter. AdvisorNet Financial Inc now owns 1,028 shares of the company's stock worth $58,000 after acquiring an additional 194 shares during the period. Wesbanco Bank Inc. lifted its stake in Cardinal Health by 3.4% in the second quarter. Wesbanco Bank Inc. now owns 5,905 shares of the company's stock worth $308,000 after acquiring an additional 196 shares during the period. KB Financial Partners LLC lifted its stake in Cardinal Health by 2.5% in the first quarter. KB Financial Partners LLC now owns 8,267 shares of the company's stock worth $469,000 after acquiring an additional 199 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Cardinal Health by 23.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,041 shares of the company's stock worth $59,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $69.39 on Thursday. Cardinal Health, Inc. has a 1-year low of $45.85 and a 1-year high of $72.28. The business has a fifty day moving average price of $67.01 and a 200-day moving average price of $60.14. The company has a market capitalization of $18.18 billion, a PE ratio of 10.42, a PEG ratio of 1.53 and a beta of 0.76.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Monday, October 3rd will be given a dividend of $0.4957 per share. The ex-dividend date of this dividend is Friday, September 30th. This represents a $1.98 annualized dividend and a dividend yield of 2.86%. Cardinal Health's dividend payout ratio (DPR) is presently 29.73%.

Analyst Ratings Changes

A number of analysts recently commented on CAH shares. Mizuho raised their price target on Cardinal Health from $58.00 to $66.00 in a research note on Friday, August 12th. Evercore ISI increased their price objective on Cardinal Health to $75.00 in a report on Monday, August 15th. Credit Suisse Group increased their price objective on Cardinal Health from $56.00 to $64.00 and gave the stock a "neutral" rating in a report on Friday, August 12th. Cowen increased their price objective on Cardinal Health from $59.00 to $72.00 and gave the stock a "market perform" rating in a report on Tuesday, August 16th. Finally, UBS Group increased their price objective on Cardinal Health from $61.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, August 29th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $70.20.

About Cardinal Health

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Cardinal Health, Inc operates as an integrated 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.

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