The Manufacturers Life Insurance Company Sells 2,280 Shares of Cardinal Health, Inc. (NYSE:CAH)

The Manufacturers Life Insurance Company lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,457 shares of the company’s stock after selling 2,280 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.09% of Cardinal Health worth $24,475,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Qsemble Capital Management LP bought a new position in shares of Cardinal Health during the 3rd quarter valued at $1,293,000. Truvestments Capital LLC increased its position in Cardinal Health by 22.0% during the third quarter. Truvestments Capital LLC now owns 12,128 shares of the company’s stock worth $1,340,000 after buying an additional 2,186 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in Cardinal Health by 650.4% during the third quarter. Loomis Sayles & Co. L P now owns 6,836 shares of the company’s stock valued at $756,000 after buying an additional 5,925 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Cardinal Health by 26.0% in the third quarter. Independent Advisor Alliance now owns 15,821 shares of the company’s stock worth $1,749,000 after buying an additional 3,262 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Cardinal Health by 22.9% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 13,997 shares of the company’s stock worth $1,547,000 after acquiring an additional 2,610 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.3 %

Shares of NYSE CAH opened at $122.24 on Friday. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.53 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The business has a fifty day simple moving average of $114.96 and a 200 day simple moving average of $106.69.

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 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 company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the prior year, the company posted $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share 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. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Mizuho boosted their target price on Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Robert W. Baird upped their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. 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 research note on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Finally, StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.