Sivik Global Healthcare LLC Sells 5,000 Shares of Cardinal Health, Inc. $CAH

Sivik Global Healthcare LLC lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,500 shares of the company’s stock after selling 5,000 shares during the period. Cardinal Health comprises about 1.9% of Sivik Global Healthcare LLC’s holdings, making the stock its 7th largest position. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $6,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. increased its position in shares of Cardinal Health by 0.5% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock worth $1,902,000 after purchasing an additional 48 shares in the last quarter. Latitude Advisors LLC increased its position in shares of Cardinal Health by 2.1% during the third quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock worth $408,000 after purchasing an additional 53 shares in the last quarter. Barnes Dennig Private Wealth Management LLC increased its position in shares of Cardinal Health by 38.7% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock worth $39,000 after purchasing an additional 53 shares in the last quarter. MFA Wealth Services increased its position in shares of Cardinal Health by 2.3% during the third quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock worth $391,000 after purchasing an additional 55 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in shares of Cardinal Health by 2.2% during the fourth quarter. Moody National Bank Trust Division now owns 2,696 shares of the company’s stock worth $554,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $212.50 on Wednesday. Cardinal Health, Inc. has a 1 year low of $121.17 and a 1 year high of $233.60. The company has a market capitalization of $50.01 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.38 and a beta of 0.64. The business has a 50 day moving average price of $217.63 and a 200 day moving average price of $199.80.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data 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 negative return on equity of 92.50% and a net margin of 0.68%.The firm had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same period in the previous year, the firm posted $1.93 EPS. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s payout ratio is 29.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CAH shares. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the stock from $190.00 to $244.00 in a report on Friday, January 9th. TD Cowen raised their price target on Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group raised their price target on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price objective on shares of Cardinal Health in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

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.