Sunbelt Securities Inc. Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH)

Sunbelt Securities Inc. lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 23.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,373 shares of the company’s stock after selling 427 shares during the quarter. Sunbelt Securities Inc.’s holdings in Cardinal Health were worth $152,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Eastern Bank purchased a new stake in shares of Cardinal Health in the third quarter valued at $25,000. Frazier Financial Advisors LLC raised 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. Cultivar Capital Inc. purchased a new position in Cardinal Health in the 2nd quarter valued at about $27,000. Hara Capital LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth about $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health during the second quarter worth about $29,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAH shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $101.00 to $127.00 in a research report on Friday. Barclays increased 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. Morgan Stanley lifted their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho initiated coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.75.

Cardinal Health Stock Performance

CAH stock opened at $118.10 on Friday. The firm 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, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The stock has a 50-day simple moving average of $117.12 and a 200-day simple moving average of $108.45.

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. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period last year, the business earned $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.82 EPS 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 paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.71%. Cardinal Health’s dividend payout ratio (DPR) is 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.