UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $246.13 Million Position in Cardinal Health, Inc. (NYSE:CAH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,227,029 shares of the company’s stock after selling 243,035 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Cardinal Health were worth $246,131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eastern Bank bought a new position in Cardinal Health in the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in Cardinal Health during the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during 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. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the 2nd quarter worth $29,000. Finally, Hara Capital LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth about $31,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.3 %

NYSE CAH opened at $122.24 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The company has a 50 day moving average of $114.75 and a 200-day moving average of $106.52. The firm has a market cap of $29.58 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share 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 analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.73 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays lifted their target price on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird boosted their price objective on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Mizuho lifted their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Argus increased their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.