Cardinal Health, Inc. (NYSE:CAH) Shares Sold by MAI Capital Management

MAI Capital Management trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 75.5% during the third quarter, HoldingsChannel.com reports. The fund owned 4,269 shares of the company’s stock after selling 13,129 shares during the period. MAI Capital Management’s holdings in Cardinal Health were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Cardinal Health Stock Performance

CAH opened at $121.84 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The company has a market cap of $29.49 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.48 and a beta of 0.60. The business’s fifty day moving average is $113.90 and its two-hundred day moving average is $105.86.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. On average, analysts predict 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. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAH. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Mizuho boosted their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.