Cardinal Health, Inc. $CAH Stock Position Cut by APG Asset Management N.V.

APG Asset Management N.V. trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 335,664 shares of the company’s stock after selling 6,193 shares during the quarter. APG Asset Management N.V. owned about 0.14% of Cardinal Health worth $52,686,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Sierra Summit Advisors LLC bought a new position in shares of Cardinal Health in the third quarter valued at approximately $9,897,000. Aprio Wealth Management LLC bought a new position in Cardinal Health during the 3rd quarter valued at $240,000. Rafferty Asset Management LLC increased its position in shares of Cardinal Health by 5.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 26,511 shares of the company’s stock valued at $4,161,000 after purchasing an additional 1,282 shares during the period. Argent Trust Co raised its stake in shares of Cardinal Health by 36.5% in the 3rd quarter. Argent Trust Co now owns 2,145 shares of the company’s stock worth $337,000 after buying an additional 574 shares in the last quarter. Finally, Banco Santander S.A. lifted its holdings in shares of Cardinal Health by 12.7% in the third quarter. Banco Santander S.A. now owns 117,354 shares of the company’s stock valued at $18,420,000 after buying an additional 13,228 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH opened at $228.85 on Monday. The firm has a market capitalization of $53.85 billion, a price-to-earnings ratio of 32.93, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65. The company has a 50 day simple moving average of $214.08 and a 200-day simple moving average of $187.49. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $230.81.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors 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 dividend payout ratio (DPR) is currently 29.35%.

Analyst Ratings Changes

A number of research analysts recently issued reports on CAH shares. Leerink Partners lifted their target price on Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a report on Friday, February 6th. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $245.20.

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.