Harvest Fund Management Co. Ltd Decreases Position in Cardinal Health, Inc. (NYSE:CAH)

Harvest Fund Management Co. Ltd cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 59.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 496 shares of the company’s stock after selling 722 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Cardinal Health were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Czech National Bank lifted its stake in Cardinal Health by 47.6% in the 3rd quarter. Czech National Bank now owns 44,499 shares of the company’s stock valued at $3,863,000 after buying an additional 14,359 shares in the last quarter. Country Club Bank GFN boosted its holdings in shares of Cardinal Health by 91.7% during the 3rd quarter. Country Club Bank GFN now owns 11,636 shares of the company’s stock worth $1,022,000 after purchasing an additional 5,565 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $861,000. Ascent Wealth Partners LLC purchased a new position in Cardinal Health during the third quarter worth approximately $957,000. Finally, Brookstone Capital Management lifted its position in Cardinal Health by 6.4% during the third quarter. Brookstone Capital Management now owns 12,043 shares of the company’s stock worth $1,118,000 after buying an additional 724 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.6 %

CAH opened at $103.20 on Friday. The stock’s 50-day moving average price is $109.51 and its 200 day moving average price is $104.67. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04. The firm has a market cap of $25.10 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 1.05 and a beta of 0.68.

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

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.94%. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays assumed coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price for the company. SVB Leerink assumed coverage on Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price for the company. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

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.