USA Financial Formulas Sells 235 Shares of Cardinal Health, Inc. (NYSE:CAH)

USA Financial Formulas cut its position in Cardinal Health, Inc. (NYSE:CAH) by 10.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,121 shares of the company’s stock after selling 235 shares during the period. USA Financial Formulas’ holdings in Cardinal Health were worth $251,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC lifted its stake 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 purchasing an additional 104 shares during the last quarter. Hara Capital LLC bought a new position in Cardinal Health during the third quarter worth about $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the third quarter worth approximately $33,000. Finally, Carolina Wealth Advisors LLC bought a new stake in Cardinal Health in the third quarter valued at approximately $47,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the topic of a number of recent analyst reports. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. UBS Group raised their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Finally, Citigroup raised their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Stock Up 1.9 %

NYSE CAH opened at $127.03 on Friday. The company has a market capitalization of $30.74 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $127.08. The firm has a 50-day moving average price of $120.46 and a two-hundred day moving average price of $111.50.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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 net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is presently 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.