Cardinal Health, Inc. $CAH Shares Sold by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 82.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,847 shares of the company’s stock after selling 13,422 shares during the period. Coastal Bridge Advisors LLC’s holdings in Cardinal Health were worth $447,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. raised its holdings in Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of 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 during the last quarter. Atlantic Edge Private Wealth Management LLC raised its stake in Cardinal Health by 75.0% during the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock worth $29,000 after acquiring an additional 75 shares in the last quarter. American Capital Advisory LLC lifted its position in Cardinal Health by 5,200.0% in the third 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 last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its stake in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $214.85 on Friday. The stock has a market capitalization of $51.05 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.44 and a beta of 0.65. The company’s fifty day moving average is $206.24 and its two-hundred day moving average is $177.90. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $216.51.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, October 30th. The company reported $2.55 EPS for the quarter, topping the consensus estimate of $2.22 by $0.33. The company had revenue of $64.01 billion during the quarter, compared to analysts’ expectations of $59.41 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the business earned $1.88 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, January 2nd. Cardinal Health’s payout ratio is currently 30.77%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CAH shares. TD Cowen reissued a “buy” rating on shares of Cardinal Health in a report on Tuesday. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 18th. Finally, Mizuho set a $222.00 price objective on shares of Cardinal Health in a research report on Monday, January 12th. Fourteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $224.73.

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.