Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 23.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 53,867 shares of the company’s stock after selling 16,170 shares during the period. Advisors Asset Management Inc.’s holdings in Cardinal Health were worth $5,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. increased its position in Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after acquiring an additional 370,181 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after purchasing an additional 14,030 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares during the period. Renaissance Technologies LLC grew its position in Cardinal Health by 7.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after buying an additional 111,137 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Cardinal Health by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after buying an additional 242,608 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $123.30 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The company has a market capitalization of $29.84 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.48 and a beta of 0.60. The business has a 50-day moving average of $113.72 and a 200-day moving average of $105.70.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The company 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%. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.73 earnings per share. Research analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced 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 of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.64%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analysts Set New Price Targets

Several research firms have issued reports on CAH. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their price target 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. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Argus raised their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company upped their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health 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.