Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,094 shares of the company’s stock after selling 689 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cardinal Health were worth $3,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Eastern Bank purchased a new position in Cardinal Health in the 3rd quarter worth $25,000. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health in the second quarter worth about $27,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health in the second quarter worth about $29,000. Hara Capital LLC acquired a new stake in shares of Cardinal Health during the third quarter worth about $31,000. Finally, LRI Investments LLC purchased a new stake in Cardinal Health in the first quarter valued at approximately $32,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 1.3 %

CAH opened at $121.84 on Friday. The firm’s fifty day simple moving average is $113.90 and its two-hundred day simple moving average is $105.86. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week 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.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the company posted $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAH shares. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company upped their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. UBS Group lifted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho lifted their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

About Cardinal Health

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.