Exchange Traded Concepts LLC Lowers Holdings in Cardinal Health, Inc. $CAH

Exchange Traded Concepts LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 33.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,380 shares of the company’s stock after selling 2,680 shares during the period. Exchange Traded Concepts LLC’s holdings in Cardinal Health were worth $1,106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wealthcare Advisory Partners LLC grew its stake in shares of Cardinal Health by 8.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,400 shares of the company’s stock worth $493,000 after acquiring an additional 195 shares in the last quarter. Accurate Wealth Management LLC raised its stake in shares of Cardinal Health by 5.9% in the fourth quarter. Accurate Wealth Management LLC now owns 5,902 shares of the company’s stock valued at $1,187,000 after acquiring an additional 331 shares in the last quarter. Net Worth Advisory Group boosted its holdings in Cardinal Health by 12.2% in the fourth quarter. Net Worth Advisory Group now owns 2,379 shares of the company’s stock valued at $489,000 after purchasing an additional 259 shares during the period. Global X Japan Co. Ltd. boosted its holdings in Cardinal Health by 253.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 13,710 shares of the company’s stock valued at $2,817,000 after purchasing an additional 9,834 shares during the period. Finally, CoreCap Advisors LLC grew its stake in Cardinal Health by 16.5% during the 4th quarter. CoreCap Advisors LLC now owns 31,333 shares of the company’s stock worth $6,439,000 after purchasing an additional 4,431 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $214.00 on Friday. The stock’s 50-day simple moving average is $217.52 and its 200-day simple moving average is $197.78. The firm has a market capitalization of $50.36 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 1.37 and a beta of 0.64. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $64.88 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. 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 firms have issued reports on CAH. Evercore increased their price target on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Morgan Stanley set a $255.00 price objective on Cardinal Health in a research report on Friday, February 6th. Jefferies Financial Group upped their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Finally, TD Cowen boosted their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. One research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $245.67.

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.