Sheets Smith Wealth Management Trims Stake in Cardinal Health, Inc. (NYSE:CAH)

Sheets Smith Wealth Management cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,055 shares of the company’s stock after selling 90 shares during the period. Sheets Smith Wealth Management’s holdings in Cardinal Health were worth $480,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CAH. State Street Corp lifted its stake in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after acquiring an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 worth $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Finally, Brandes Investment Partners LP raised its stake in Cardinal Health by 10.1% during the 2nd quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock valued at $129,439,000 after purchasing an additional 121,107 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of a number of research reports. Morgan Stanley lifted 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. Citigroup lifted their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Barclays raised 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. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Up 0.7 %

Shares of CAH opened at $128.73 on Thursday. The firm’s fifty day moving average is $120.99 and its two-hundred day moving average is $112.58. The stock has a market cap of $31.15 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.54 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $129.36.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter last year, the business posted $1.73 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.5056 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.57%. Cardinal Health’s payout ratio is 39.30%.

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.