Vestor Capital LLC Cuts Stock Position in Cardinal Health, Inc. $CAH

Vestor Capital LLC cut its position in Cardinal Health, Inc. (NYSE:CAH) by 61.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,191 shares of the company’s stock after selling 154,327 shares during the quarter. Cardinal Health makes up approximately 1.5% of Vestor Capital LLC’s investment portfolio, making the stock its 19th largest holding. Vestor Capital LLC’s holdings in Cardinal Health were worth $20,326,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAH. Kornitzer Capital Management Inc. KS lifted its holdings in Cardinal Health by 100.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock worth $3,733,000 after acquiring an additional 9,120 shares in the last quarter. HF Advisory Group LLC increased its holdings in shares of Cardinal Health by 97.5% in the fourth quarter. HF Advisory Group LLC now owns 10,227 shares of the company’s stock worth $2,102,000 after acquiring an additional 5,049 shares in the last quarter. Abacus FCF Advisors LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $7,182,000. Byrne Financial Freedom LLC acquired a new stake in shares of Cardinal Health during the fourth quarter worth about $1,574,000. Finally, Belleair Asset Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at about $1,100,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. TD Cowen lifted their price target on shares of Cardinal Health from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Citigroup increased their price objective on shares of Cardinal Health from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Robert W. Baird set a $248.00 price objective on shares of Cardinal Health in a research report on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $251.73.

Cardinal Health Trading Down 0.8%

NYSE:CAH opened at $227.30 on Friday. The stock has a market capitalization of $53.24 billion, a PE ratio of 34.76, a P/E/G ratio of 1.12 and a beta of 0.49. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21. The firm has a fifty day simple moving average of $222.35 and a 200 day simple moving average of $215.20.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.38. The firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.35 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.5158 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is presently 31.50%.

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.