Richard Bernstein Advisors LLC Sells 10,984 Shares of Cardinal Health, Inc. $CAH

Richard Bernstein Advisors LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 45.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,422 shares of the company’s stock after selling 10,984 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Cardinal Health were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of CAH. Vanguard Group Inc. lifted its position in Cardinal Health by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after buying an additional 247,667 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cardinal Health by 3.3% during the second quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after acquiring an additional 205,539 shares during the last quarter. Norges Bank acquired a new position in shares of Cardinal Health during the second quarter valued at $584,420,000. Invesco Ltd. increased its position in Cardinal Health by 7.3% in the second quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after purchasing an additional 207,750 shares during the period. Finally, Legal & General Group Plc raised its holdings in Cardinal Health by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock worth $394,761,000 after purchasing an additional 45,812 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CAH shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Jefferies Financial Group boosted their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $244.00 in a research note on Friday, January 9th. Wells Fargo & Company boosted their price target on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Trading Up 2.1%

NYSE:CAH opened at $222.30 on Tuesday. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60. The stock has a market cap of $52.31 billion, a P/E ratio of 31.99, a PEG ratio of 1.40 and a beta of 0.65. The stock has a 50 day simple moving average of $215.95 and a 200 day simple moving average of $190.54.

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

Cardinal Health Dividend Announcement

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