Cardinal Health, Inc. (NYSE:CAH) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,639 shares of the company’s stock after selling 5,949 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Cardinal Health were worth $4,491,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CAH. Charles Schwab Investment Management Inc. grew its stake in Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after acquiring an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $371,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $1,208,000. Fiera Capital Corp acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $507,000. Finally, GSA Capital Partners LLP lifted its stake in Cardinal Health by 87.2% in the 3rd quarter. GSA Capital Partners LLP now owns 25,506 shares of the company’s stock valued at $2,819,000 after buying an additional 11,883 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the subject of a number of analyst reports. Evercore ISI boosted their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Morgan Stanley boosted their price objective on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Argus raised their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $122.45 on Tuesday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a 50-day simple moving average of $114.96 and a 200-day simple moving average of $106.82. The stock has a market capitalization of $29.63 billion, a P/E ratio of 23.82, a PEG ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. Analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current 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 is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is currently 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.