Pathstone Holdings LLC Lowers Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Pathstone Holdings LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 1.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,050 shares of the company’s stock after selling 295 shares during the period. Pathstone Holdings LLC’s holdings in Cardinal Health were worth $2,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after buying an additional 370,181 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after acquiring an additional 85,247 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after acquiring an additional 111,137 shares in the last quarter. American Century Companies Inc. boosted its position in Cardinal Health by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after purchasing an additional 242,608 shares during the period. Finally, Brandes Investment Partners LP increased its holdings in Cardinal Health by 10.1% in the 2nd quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock valued at $129,439,000 after purchasing an additional 121,107 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $121.77 on Tuesday. The firm has a market cap of $29.47 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The firm’s 50-day simple moving average is $114.07 and its 200-day simple moving average is $106.13.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter last year, the business posted $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s payout ratio is 39.30%.

Analysts Set New Price Targets

CAH has been the subject of several analyst reports. Evercore ISI upped their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Mizuho increased their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Morgan Stanley boosted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird raised their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

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.