Liontrust Investment Partners LLP Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)
Liontrust Investment Partners LLP reduced its stake in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 31.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,819 shares of the company’s stock after selling 53,060 shares during the period. Liontrust Investment Partners LLP’s holdings in Cardinal Health were worth $7,789,000 at the end of the most recent quarter.
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Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Marshall Wace LLP raised its holdings in Cardinal Health by 6,373.0% in the 3rd quarter. Marshall Wace LLP now owns 1,259,640 shares of the company’s stock valued at $83,994,000 after buying an additional 1,240,180 shares during the period. Martingale Asset Management L P raised its holdings in Cardinal Health by 29.3% in the 3rd quarter. Martingale Asset Management L P now owns 47,960 shares of the company’s stock valued at $3,198,000 after buying an additional 10,870 shares during the period. Edgestream Partners L.P. purchased a new stake in Cardinal Health during the third quarter worth about $807,000. Elliott Investment Management L.P. purchased a new stake in Cardinal Health during the third quarter worth about $133,360,000. Finally, Ensign Peak Advisors Inc increased its stake in Cardinal Health by 36.6% during the third quarter. Ensign Peak Advisors Inc now owns 107,462 shares of the company’s stock worth $7,167,000 after purchasing an additional 28,765 shares during the period. 88.93% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on CAH. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 27th. Bank Of America (Bofa) upgraded shares of Cardinal Health from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $64.00 to $80.00 in a research note on Friday, November 4th. Mizuho boosted their price target on shares of Cardinal Health from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, November 14th. Morgan Stanley boosted their price target on shares of Cardinal Health from $86.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Finally, Bank of America upgraded shares of Cardinal Health from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $64.00 to $80.00 in a research note on Friday, November 4th. Seven equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.64.
Cardinal Health Price Performance
Shares of CAH stock traded up $0.16 during trading hours on Friday, hitting $74.87. The stock had a trading volume of 653,247 shares, compared to its average volume of 2,594,078. The firm has a market capitalization of $19.29 billion, a PE ratio of 13.71, a PEG ratio of 1.21 and a beta of 0.76. Cardinal Health, Inc. has a twelve month low of $49.70 and a twelve month high of $81.57. The stock’s 50 day moving average is $77.44 and its 200 day moving average is $74.63.
Cardinal Health (NYSE:CAH – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The company had revenue of $51.47 billion during the quarter, compared to the consensus estimate of $50.03 billion. Cardinal Health had a negative net margin of 0.66% and a negative return on equity of 101.28%. Cardinal Health’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, equities analysts predict that Cardinal Health, Inc. will post 5.42 earnings per share for the current year.
Cardinal Health Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, April 3rd will be issued a $0.4957 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, March 31st. Cardinal Health’s payout ratio is 36.33%.
Cardinal Health Profile
Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.
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