PNC Financial Services Group Inc. Cuts Stock Position in Cardinal Health, Inc. $CAH

PNC Financial Services Group Inc. trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,248 shares of the company’s stock after selling 2,898 shares during the period. PNC Financial Services Group Inc.’s holdings in Cardinal Health were worth $12,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CAH. Latitude Advisors LLC grew its holdings in Cardinal Health by 2.1% during the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after buying an additional 53 shares in the last quarter. WESPAC Advisors LLC boosted its position in shares of Cardinal Health by 1.0% during the third quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock worth $1,043,000 after acquiring an additional 63 shares during the last quarter. Kathmere Capital Management LLC grew its stake in Cardinal Health by 1.6% during the third quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after acquiring an additional 65 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its holdings in Cardinal Health by 55.0% in the 2nd 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 during the last quarter. Finally, Woodward Diversified Capital LLC lifted its stake in Cardinal Health by 4.0% in the 3rd quarter. Woodward Diversified Capital LLC now owns 1,854 shares of the company’s stock worth $291,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAH. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Argus lifted their price objective on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Wells Fargo & Company upped their price target 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $244.20.

Cardinal Health Stock Down 0.2%

CAH stock opened at $225.07 on Thursday. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $230.81. The stock has a market capitalization of $52.96 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. The firm’s fifty day simple moving average is $210.37 and its two-hundred day simple moving average is $183.79.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. 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 is presently 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.