Skba Capital Management LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Skba Capital Management LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 46.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,250 shares of the company’s stock after selling 49,550 shares during the period. Skba Capital Management LLC’s holdings in Cardinal Health were worth $6,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings 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 valued at $1,566,913,000 after purchasing an additional 627,253 shares during the period. Geode Capital Management LLC increased its holdings 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 period. Amundi raised its position in Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after buying an additional 110,605 shares during the last quarter. Norges Bank acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $246,748,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Cardinal Health by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after acquiring an additional 44,386 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. Finally, TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective 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 eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Stock Performance

Shares of CAH opened at $136.43 on Monday. The stock has a 50 day moving average price of $128.36 and a 200 day moving average price of $120.86. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $137.18. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

About Cardinal Health

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.