Cardinal Health, Inc. $CAH Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CAH. Vanguard Group Inc. grew its holdings in Cardinal Health by 0.8% during the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after acquiring an additional 247,667 shares during the period. Geode Capital Management LLC boosted its position in Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after purchasing an additional 205,539 shares in the last quarter. Norges Bank purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $584,420,000. Invesco Ltd. grew its stake in shares of Cardinal Health by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after purchasing an additional 207,750 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Cardinal Health by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after purchasing an additional 45,812 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $224.22 on Monday. The business has a fifty day moving average price of $211.38 and a 200 day moving average price of $184.89. The company 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 released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business 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 company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. The ex-dividend date 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 is presently 29.35%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. Mizuho upped their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Leerink Partners lifted their price target on Cardinal Health from $240.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group increased their price target on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. One 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.20.

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.