MML Investors Services LLC Has $2.58 Million Position in Cardinal Health, Inc. (NYSE:CAH)

MML Investors Services LLC cut its position in Cardinal Health, Inc. (NYSE:CAH) by 42.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,343 shares of the company’s stock after selling 16,931 shares during the quarter. MML Investors Services LLC’s holdings in Cardinal Health were worth $2,580,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Eastern Bank bought a new position in Cardinal Health in the 3rd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Cardinal Health in the 2nd quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its position in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the second quarter valued at $29,000. Finally, Hara Capital LLC bought a new stake in shares of Cardinal Health in the third quarter worth $31,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CAH shares. Argus raised their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. UBS Group upped their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley raised their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.75.

Cardinal Health Trading Up 0.5 %

CAH opened at $118.10 on Monday. The company has a fifty day moving average price of $117.12 and a two-hundred day moving average price of $108.53. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.23. The company has a market cap of $28.58 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 EPS 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 negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.73 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 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.