Cardinal Health, Inc. $CAH Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 33.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,380 shares of the company’s stock after selling 2,680 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Cardinal Health were worth $1,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its position in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in Cardinal Health in the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted its stake in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. JPL Wealth Management LLC purchased a new position in Cardinal Health during the 3rd quarter worth $31,000. Finally, Turning Point Benefit Group Inc. purchased a new position in Cardinal Health during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $214.00 on Friday. The stock 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. The company has a fifty day moving average of $217.52 and a 200-day moving average of $197.78. Cardinal Health, Inc. has a one year low of $120.72 and a one year 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for 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 was up 18.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 earnings per share. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 29.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CAH shares. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a report on Monday, March 9th. Jefferies Financial Group raised their price target on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. TD Cowen upped their price objective on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company lifted their target price on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus 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.