Fmr LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Fmr LLC reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,327,022 shares of the company’s stock after selling 685,907 shares during the quarter. Fmr LLC’s holdings in Cardinal Health were worth $478,223,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CAH. Eastern Bank bought a new position in shares of Cardinal Health during the third quarter valued at about $25,000. Frazier Financial Advisors LLC increased its holdings in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Cultivar Capital Inc. bought a new position in Cardinal Health during the 2nd quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in Cardinal Health in the 3rd quarter worth approximately $31,000. Finally, LRI Investments LLC bought a new stake in shares of Cardinal Health in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.3 %

NYSE CAH opened at $122.24 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The stock’s fifty day moving average price is $114.75 and its 200-day moving average price is $106.52. The stock has a market cap of $29.58 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60.

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 net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.73 EPS. As a group, analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given 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 1.65%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CAH shares. Robert W. Baird lifted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. UBS Group raised their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Finally, Barclays increased their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

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.