Mackenzie Financial Corp Sells 27,372 Shares of Cardinal Health, Inc. (NYSE:CAH)

Mackenzie Financial Corp lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 298,632 shares of the company’s stock after selling 27,372 shares during the quarter. Mackenzie Financial Corp’s holdings in Cardinal Health were worth $30,102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health during the third quarter worth $26,000. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth $30,000. Retirement Group LLC grew its stake in shares of Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after purchasing an additional 431 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth $41,000. Finally, Headlands Technologies LLC bought a new stake in shares of Cardinal Health in the third quarter worth $47,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $106.52 on Thursday. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04. The company has a market capitalization of $25.91 billion, a P/E ratio of 41.94, a P/E/G ratio of 1.03 and a beta of 0.68. The company has a fifty day moving average of $109.46 and a 200-day moving average of $104.02.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. During the same period in the previous year, the firm posted $1.32 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analysts Set New Price Targets

Several analysts recently weighed in on CAH shares. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. UBS Group upped their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. SVB Leerink started coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, Barclays started coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

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.