Vestor Capital LLC Sells 154,327 Shares of Cardinal Health, Inc. $CAH

Vestor Capital LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 61.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,191 shares of the company’s stock after selling 154,327 shares during the quarter. Cardinal Health comprises approximately 1.5% of Vestor Capital LLC’s holdings, making the stock its 19th largest holding. Vestor Capital LLC’s holdings in Cardinal Health were worth $20,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in Cardinal Health in the 4th quarter worth about $26,000. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Cardinal Health during the 4th quarter worth approximately $27,000. Palladiem LLC purchased a new position in Cardinal Health during the 4th quarter valued at $28,000. Finally, Indiana Trust & Investment Management Co bought a new position in Cardinal Health in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $227.30 on Friday. Cardinal Health, Inc. has a 1-year low of $137.75 and a 1-year high of $243.21. The business has a 50-day moving average price of $222.35 and a 200 day moving average price of $215.20. The company has a market capitalization of $53.24 billion, a P/E ratio of 34.76, a PEG ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The business had revenue of $60.94 billion for the quarter, compared to the consensus estimate of $62.10 billion. During the same quarter last year, the firm posted $2.35 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts anticipate that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.5158 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio is 31.50%.

Analyst Ratings Changes

Several research firms have recently weighed in on CAH. Robert W. Baird set a $248.00 target price on Cardinal Health in a research report on Friday, May 1st. Wells Fargo & Company decreased their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a report on Friday, May 1st. William Blair started coverage on shares of Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. TD Cowen upped their target price on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley raised their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $251.73.

About Cardinal Health

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.