Ameritas Investment Partners Inc. Sells 2,797 Shares of Cardinal Health, Inc. $CAH

Ameritas Investment Partners Inc. lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,113 shares of the company’s stock after selling 2,797 shares during the period. Ameritas Investment Partners Inc.’s holdings in Cardinal Health were worth $4,099,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Integrated Wealth Concepts LLC increased its position in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares in the last quarter. Carnegie Investment Counsel purchased a new stake in shares of Cardinal Health during the 2nd quarter worth approximately $357,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Cardinal Health by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 625,082 shares of the company’s stock valued at $105,014,000 after purchasing an additional 7,308 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in shares of Cardinal Health by 12.7% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 7,106 shares of the company’s stock worth $1,193,000 after acquiring an additional 803 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CAH. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday. TD Cowen increased their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Evercore boosted their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Stock Performance

Shares of CAH opened at $224.22 on Monday. The stock has a 50-day moving average of $211.38 and a two-hundred day moving average of $184.89. The stock has a market cap of $52.76 billion, a P/E ratio of 32.26, a P/E/G ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $230.81.

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

Cardinal Health Announces Dividend

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

Cardinal Health Company 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.