Massachusetts Financial Services Co. MA Decreases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 68.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,087 shares of the company’s stock after selling 93,614 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cardinal Health were worth $4,762,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank bought a new position in Cardinal Health in the 3rd quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC lifted its holdings in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health in the second quarter worth $29,000. Finally, Hara Capital LLC bought a new position in Cardinal Health in the third quarter valued at $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CAH shares. Robert W. Baird raised their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. UBS Group upped their price objective 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. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Morgan Stanley lifted their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

CAH opened at $122.45 on Wednesday. The stock’s 50 day moving average price is $114.07 and its 200-day moving average price is $106.13. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The stock has a market capitalization of $29.63 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60.

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 analysts’ consensus estimates 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 business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the previous year, the firm earned $1.73 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.