Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Cypress Capital Group

Cypress Capital Group lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,213 shares of the company’s stock after selling 617 shares during the quarter. Cypress Capital Group’s holdings in Cardinal Health were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Eastern Bank bought a new stake in Cardinal Health during the third quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $27,000. Frazier Financial Advisors LLC lifted its position in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health during the second quarter valued at approximately $29,000. Finally, Hara Capital LLC acquired a new position in shares of Cardinal Health during the 3rd quarter worth about $31,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CAH shares. UBS Group upped their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho boosted their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. Argus upped their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Performance

Shares of CAH opened at $120.34 on Thursday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The stock has a 50 day moving average price of $113.51 and a two-hundred day moving average price of $105.58. The firm has a market capitalization of $29.12 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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. 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 for the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the firm earned $1.73 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.68%. Cardinal Health’s payout ratio is 39.30%.

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.