Pitcairn Co. Sells 2,447 Shares of Cardinal Health, Inc. $CAH

Pitcairn Co. lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 50.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,372 shares of the company’s stock after selling 2,447 shares during the period. Pitcairn Co.’s holdings in Cardinal Health were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. SJS Investment Consulting Inc. boosted its holdings in Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares during the period. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares in the last quarter. American Capital Advisory LLC raised its holdings in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock valued at $33,000 after acquiring an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in shares of Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 71 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Cardinal Health in the third quarter worth $35,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CAH shares. Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 18th. Leerink Partners raised their price objective on shares of Cardinal Health from $268.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Argus boosted their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Mizuho upped their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Trading Up 0.9%

Shares of NYSE CAH opened at $217.89 on Monday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.40 and a beta of 0.65. The business has a 50-day moving average of $215.65 and a 200-day moving average of $190.05.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same period last year, the firm posted $1.93 earnings per share. Cardinal Health’s quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Cardinal Health 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.