Mutual Advisors LLC Cuts Position in Cardinal Health, Inc. (NYSE:CAH)

Mutual Advisors LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,706 shares of the company’s stock after selling 512 shares during the quarter. Mutual Advisors LLC’s holdings in Cardinal Health were worth $725,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eastern Bank purchased a new position in shares of Cardinal Health in the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC increased its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at $31,000. AM Squared Ltd purchased a new position in shares of Cardinal Health in the 3rd quarter valued at $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at $47,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

NYSE CAH opened at $128.89 on Monday. The stock has a 50-day simple moving average of $121.36 and a two-hundred day simple moving average of $113.16. The firm has a market capitalization of $31.19 billion, a P/E ratio of 25.08, a PEG ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $129.68.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates 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 revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.73 EPS. As a group, analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAH. Citigroup raised their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Barclays raised their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.64.

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.