Freedom Investment Management Inc. Has $1.67 Million Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Freedom Investment Management Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,074 shares of the company’s stock after selling 772 shares during the period. Freedom Investment Management Inc.’s holdings in Cardinal Health were worth $1,666,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Barclays increased their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Argus upped their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft increased 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 investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

Cardinal Health stock opened at $122.59 on Thursday. The stock has a market cap of $29.67 billion, a P/E ratio of 23.85, a PEG ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The firm’s fifty day moving average price is $114.29 and its 200-day moving average price is $106.29.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. Cardinal Health’s payout ratio is 39.30%.

About Cardinal Health

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.