Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,673 shares of the company’s stock after selling 800 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Cardinal Health were worth $316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in Cardinal Health in the 2nd quarter valued at $90,440,000. State Street Corp grew its position 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 in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Cardinal Health by 230.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after buying an additional 333,095 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Cardinal Health during the third quarter worth $30,820,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAH. Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Morgan Stanley lifted their target price on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup increased their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.29.

Cardinal Health Stock Performance

Shares of CAH opened at $126.27 on Tuesday. The company has a market capitalization of $30.56 billion, a price-to-earnings ratio of 24.57, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $127.27. The firm has a 50-day simple moving average of $120.84 and a 200-day simple moving average of $112.25.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period last year, the business posted $1.73 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Equities research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.