Romano Brothers AND Company Cuts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Romano Brothers AND Company reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,262 shares of the company’s stock after selling 350 shares during the period. Romano Brothers AND Company’s holdings in Cardinal Health were worth $1,438,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Triasima Portfolio Management inc. purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $908,000. Louisiana State Employees Retirement System purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $1,502,000. Simplicity Solutions LLC grew its position in shares of Cardinal Health by 74.4% in the fourth quarter. Simplicity Solutions LLC now owns 6,768 shares of the company’s stock valued at $682,000 after purchasing an additional 2,887 shares in the last quarter. Baystate Wealth Management LLC purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $111,000. Finally, Friedenthal Financial purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $693,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of CAH traded down $1.32 during midday trading on Friday, hitting $105.10. 1,535,419 shares of the stock were exchanged, compared to its average volume of 1,807,148. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04. The stock has a fifty day simple moving average of $109.32 and a 200 day simple moving average of $103.61. The firm has a market cap of $25.56 billion, a P/E ratio of 41.38, a P/E/G ratio of 1.01 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. Cardinal Health’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.32 earnings per share. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a $0.5006 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio is presently 78.74%.

Analyst Ratings Changes

A number of research firms have recently issued reports on CAH. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. SVB Leerink initiated coverage on Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Finally, Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Company 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.