CFS Investment Advisory Services LLC Trims Stock Position in Cardinal Health, Inc. (NYSE:CAH)

CFS Investment Advisory Services LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,568 shares of the company’s stock after selling 216 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Cardinal Health were worth $1,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Geode Capital Management LLC raised its holdings in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its stake in shares of Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock worth $28,435,000 after acquiring an additional 3,576 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Cardinal Health during the 3rd quarter valued at approximately $1,691,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.3 %

CAH opened at $128.89 on Friday. The company has a market capitalization of $31.19 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The firm has a 50-day simple moving average of $121.36 and a two-hundred day simple moving average of $112.92. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $129.68.

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, topping 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 business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed 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 1.57%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAH shares. Morgan Stanley increased their price target on shares of Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Friday. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. Finally, UBS Group boosted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $134.64.

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.