Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 298,632 shares of the company’s stock after selling 27,372 shares during the period. Mackenzie Financial Corp owned approximately 0.12% of Cardinal Health worth $30,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAH. Norges Bank acquired a new stake in Cardinal Health during the fourth quarter valued at approximately $220,230,000. Moneta Group Investment Advisors LLC purchased a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $215,893,000. Ameriprise Financial Inc. lifted its position in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after acquiring an additional 1,862,291 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of Cardinal Health by 677.5% in the 1st quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock valued at $101,986,000 after acquiring an additional 1,177,066 shares in the last quarter. Finally, Man Group plc lifted its position in shares of Cardinal Health by 68.3% in the 4th quarter. Man Group plc now owns 1,477,702 shares of the company’s stock valued at $113,591,000 after acquiring an additional 599,698 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. SVB Leerink began coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target for the company. Barclays began coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price for the company. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. TheStreet downgraded shares of Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. Finally, UBS Group increased their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Performance

NYSE CAH opened at $106.52 on Thursday. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04. The stock has a market capitalization of $25.91 billion, a PE ratio of 41.94, a P/E/G ratio of 1.03 and a beta of 0.68. The stock has a 50-day simple moving average of $109.46 and a 200 day simple moving average of $104.02.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.88%. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

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.