CreativeOne Wealth LLC Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

CreativeOne Wealth LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,654 shares of the company’s stock after selling 207 shares during the period. CreativeOne Wealth LLC’s holdings in Cardinal Health were worth $404,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $90,440,000. Pacer Advisors Inc. increased its position in shares of Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Cardinal Health in the 3rd quarter valued at approximately $30,820,000. American Century Companies Inc. increased its position in shares of Cardinal Health by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after purchasing an additional 242,608 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Cardinal Health by 63.2% in the 2nd quarter. Squarepoint Ops LLC now owns 485,238 shares of the company’s stock valued at $47,709,000 after purchasing an additional 187,955 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH stock opened at $122.24 on Monday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The stock has a market capitalization of $29.58 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.53 and a beta of 0.60. The company has a fifty day moving average of $114.96 and a 200-day moving average of $106.75.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the business earned $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share 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. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CAH. UBS Group upped their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird upped their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Argus upped their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Morgan Stanley upped their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Company 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.