Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 23.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,406 shares of the company’s stock after selling 717 shares during the period. Moors & Cabot Inc.’s holdings in Cardinal Health were worth $266,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Cardinal Health during the first quarter worth approximately $182,000. CreativeOne Wealth LLC acquired a new position in shares of Cardinal Health during the 1st quarter worth approximately $421,000. Axxcess Wealth Management LLC purchased a new position in shares of Cardinal Health during the 1st quarter valued at approximately $217,000. LRI Investments LLC acquired a new stake in Cardinal Health in the 1st quarter valued at $122,000. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 worth $305,584,000 after acquiring an additional 14,030 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Mizuho boosted their price objective on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Robert W. Baird raised their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, 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 research report on Thursday, August 15th. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Trading Down 1.3 %

Shares of CAH opened at $121.84 on Friday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The firm has a market capitalization of $29.49 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.54 and a beta of 0.60. The firm has a 50-day moving average price of $113.90 and a 200 day moving average price of $105.91.

Cardinal Health (NYSE:CAH) last posted its earnings results 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 company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities research analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share 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. Shareholders of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. Cardinal Health’s payout ratio is currently 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.