LSV Asset Management Lowers Stock Position in Cardinal Health, Inc. $CAH

LSV Asset Management cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 37.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 614,780 shares of the company’s stock after selling 367,190 shares during the period. LSV Asset Management’s holdings in Cardinal Health were worth $96,496,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Integrated Wealth Concepts LLC increased its holdings in shares of Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in Cardinal Health by 5.7% in the second quarter. Concurrent Investment Advisors LLC now owns 8,890 shares of the company’s stock worth $1,494,000 after purchasing an additional 483 shares in the last quarter. CWM LLC lifted its position in shares of Cardinal Health by 6.3% during the second quarter. CWM LLC now owns 13,135 shares of the company’s stock valued at $2,207,000 after buying an additional 774 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Cardinal Health by 11.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 8,946 shares of the company’s stock valued at $1,503,000 after buying an additional 916 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 3.9%

NYSE:CAH opened at $215.43 on Friday. The company has a market capitalization of $50.69 billion, a P/E ratio of 31.00, a PEG ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $230.81. The firm has a fifty day simple moving average of $208.41 and a 200-day simple moving average of $181.75.

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

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on CAH shares. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company upped their price target on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday. Jefferies Financial Group increased their price objective on Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Robert W. Baird set a $252.00 price objective on Cardinal Health in a research report on Friday, February 6th. Finally, Mizuho boosted their target price on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Fifteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $245.19.

About Cardinal Health

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.