Pathstone Holdings LLC Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Pathstone Holdings LLC lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,050 shares of the company’s stock after selling 295 shares during the period. Pathstone Holdings LLC’s holdings in Cardinal Health were worth $2,326,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CAH. Pacer Advisors Inc. lifted its position in Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the period. ProShare Advisors LLC boosted its stake in shares of Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after buying an additional 85,247 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after acquiring an additional 111,137 shares during the period. American Century Companies Inc. raised its position in Cardinal Health by 17.7% in the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after acquiring an additional 242,608 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in Cardinal Health by 10.1% in the second quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock valued at $129,439,000 after acquiring an additional 121,107 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.1 %

NYSE:CAH opened at $121.77 on Tuesday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The firm has a market cap of $29.47 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. The company’s 50-day moving average is $114.07 and its two-hundred day moving average is $106.13.

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

Cardinal Health Cuts Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAH. Deutsche Bank Aktiengesellschaft increased their price target 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. UBS Group lifted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” 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. Finally, Morgan Stanley upped their target price on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.