Sanctuary Advisors LLC Has $7.14 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Sanctuary Advisors LLC trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,588 shares of the company’s stock after selling 8,326 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cardinal Health were worth $7,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Assenagon Asset Management S.A. grew its stake in Cardinal Health by 9.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 10,385 shares of the company’s stock valued at $1,021,000 after buying an additional 891 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Cardinal Health by 41.5% during the second quarter. Blue Trust Inc. now owns 3,400 shares of the company’s stock worth $334,000 after acquiring an additional 998 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in shares of Cardinal Health by 15.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 18,694 shares of the company’s stock valued at $1,838,000 after purchasing an additional 2,488 shares during the last quarter. Milestone Asset Management LLC increased its stake in shares of Cardinal Health by 7.7% during the second quarter. Milestone Asset Management LLC now owns 5,689 shares of the company’s stock worth $559,000 after purchasing an additional 408 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Cardinal Health by 6.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 38,895 shares of the company’s stock worth $3,854,000 after purchasing an additional 2,225 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the topic of a number of research reports. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley upped their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group raised their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $126.75.

Cardinal Health Stock Performance

Shares of CAH opened at $118.10 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.47 and a beta of 0.61. The business’s fifty day moving average is $117.12 and its 200-day moving average is $108.45.

Cardinal Health (NYSE:CAH) last released its earnings results 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. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 earnings per share. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.82 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. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.71%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is 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.