Cardinal Health, Inc. (NYSE:CAH) Stake Lessened by West Family Investments Inc.

West Family Investments Inc. reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,988 shares of the company’s stock after selling 93 shares during the quarter. West Family Investments Inc.’s holdings in Cardinal Health were worth $220,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CAH. Eastern Bank acquired a new position in Cardinal Health in the third quarter worth about $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health during the 2nd quarter worth approximately $27,000. Frazier Financial Advisors LLC grew its position in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $29,000. Finally, Hara Capital LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter valued at approximately $31,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $118.35 on Wednesday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The firm has a market capitalization of $28.64 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60. The stock has a fifty day moving average of $113.36 and a two-hundred day moving average of $105.47.

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, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. Equities research analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.71%. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Evercore ISI boosted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Morgan Stanley raised their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group upped their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Argus raised their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.