Oppenheimer & Co. Inc. Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Oppenheimer & Co. Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 25.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,251 shares of the company’s stock after selling 749 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cardinal Health were worth $249,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CAH. Point72 Asset Management L.P. purchased a new position in Cardinal Health in the second quarter worth $90,440,000. Jacobs Levy Equity Management Inc. raised its stake in Cardinal Health by 265.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after buying an additional 477,682 shares during the last quarter. Swedbank AB acquired a new stake in Cardinal Health in the first quarter worth about $48,673,000. Zurich Insurance Group Ltd FI grew its stake in shares of Cardinal Health by 153.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 698,636 shares of the company’s stock worth $78,177,000 after acquiring an additional 423,451 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after acquiring an additional 370,181 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $121.84 on Friday. The firm’s 50 day simple moving average is $113.90 and its 200-day simple moving average is $105.86. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The stock has a market capitalization of $29.49 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its earnings results 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 negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. Analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is presently 39.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CAH shares. Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Morgan Stanley raised their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their price target on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Robert W. Baird increased 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. Finally, UBS Group lifted their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Cardinal Health presently 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.