Fifth Third Bancorp Sells 149 Shares of Cardinal Health, Inc. (NYSE:CAH)

Fifth Third Bancorp lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,458 shares of the company’s stock after selling 149 shares during the quarter. Fifth Third Bancorp’s holdings in Cardinal Health were worth $1,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CAH. State Street Corp boosted its stake in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC boosted its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 2.4 %

CAH stock opened at $127.59 on Wednesday. The stock has a market capitalization of $30.88 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.57 and a beta of 0.63. The firm’s 50-day moving average price is $121.75 and its two-hundred day moving average price is $113.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $131.29.

Cardinal Health (NYSE:CAH) last released its quarterly 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. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the company posted $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Wall Street Analyst Weigh In

CAH has been the subject of a number of research reports. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price target on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley upped their price objective on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $101.00 to $127.00 in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $134.64.

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.