Cardinal Health, Inc. $CAH Stock Position Decreased by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 52.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,252 shares of the company’s stock after selling 2,508 shares during the period. Flagship Harbor Advisors LLC’s holdings in Cardinal Health were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Cardinal Health by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock valued at $4,838,054,000 after buying an additional 247,667 shares during the last quarter. Wellington Management Group LLP boosted its stake in Cardinal Health by 153.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the period. Bank of America Corp DE boosted its stake in Cardinal Health by 3.2% during the 3rd quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock valued at $563,922,000 after purchasing an additional 111,582 shares during the period. Invesco Ltd. boosted its stake in Cardinal Health by 14.7% during the 3rd quarter. Invesco Ltd. now owns 3,483,207 shares of the company’s stock valued at $546,724,000 after purchasing an additional 445,425 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Cardinal Health by 44.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after purchasing an additional 707,495 shares during the period. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CAH. Evercore reduced their target price on shares of Cardinal Health from $260.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Zacks Research raised shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Barclays boosted their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.33.

Cardinal Health Trading Up 0.4%

Shares of NYSE:CAH opened at $216.06 on Friday. The company has a 50 day moving average of $217.83 and a 200-day moving average of $200.02. The firm has a market cap of $50.84 billion, a P/E ratio of 31.09, a P/E/G ratio of 1.39 and a beta of 0.64. Cardinal Health, Inc. has a twelve month low of $124.73 and a twelve month high of $233.60.

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

Cardinal Health Dividend Announcement

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

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.