Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Bellevue Group AG

Bellevue Group AG lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 14.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000 shares of the company’s stock after selling 500 shares during the quarter. Bellevue Group AG’s holdings in Cardinal Health were worth $336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in Cardinal Health during the 4th quarter valued at $25,000. Raleigh Capital Management Inc. increased its position in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in Cardinal Health in the 1st quarter valued at about $32,000. Palisade Asset Management LLC purchased a new position in Cardinal Health in the 1st quarter valued at about $34,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.4 %

Shares of CAH traded down $0.39 during midday trading on Monday, reaching $97.96. 455,917 shares of the company were exchanged, compared to its average volume of 2,145,354. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04. The stock has a 50-day moving average price of $98.02 and a 200-day moving average price of $103.59. The company has a market cap of $23.86 billion, a price-to-earnings ratio of 43.71, a P/E/G ratio of 1.08 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The firm had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.74 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.5056 dividend. The ex-dividend date was Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 89.78%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAH. Citigroup decreased their target price on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. Evercore ISI lowered their price objective on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company dropped their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Argus decreased their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Robert W. Baird raised their target price on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

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.