Pitcairn Co. Sells 2,447 Shares of Cardinal Health, Inc. $CAH

Pitcairn Co. decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 50.8% during the third quarter, HoldingsChannel reports. The firm owned 2,372 shares of the company’s stock after selling 2,447 shares during the period. Pitcairn Co.’s holdings in Cardinal Health were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its position in shares of Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in Cardinal Health in the 2nd quarter worth approximately $79,000. Wedbush Securities Inc. boosted its stake in Cardinal Health by 4.0% in the second quarter. Wedbush Securities Inc. now owns 5,052 shares of the company’s stock worth $849,000 after buying an additional 193 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in Cardinal Health by 0.7% in the second quarter. KCM Investment Advisors LLC now owns 16,372 shares of the company’s stock worth $2,750,000 after buying an additional 119 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Argus lifted their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Barclays upped their price objective on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, Jefferies Financial Group upped their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Performance

Shares of CAH stock opened at $217.89 on Monday. The company has a market capitalization of $51.27 billion, a P/E ratio of 31.35, a PEG ratio of 1.40 and a beta of 0.65. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The stock has a 50 day moving average price of $215.65 and a two-hundred day moving average price of $190.05.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter last year, the business earned $1.93 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.