Cardinal Health, Inc. $CAH Shares Sold by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 82.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,847 shares of the company’s stock after selling 13,422 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Cardinal Health were worth $447,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. boosted its holdings in Cardinal Health by 107.2% during the second quarter. Baird Financial Group Inc. now owns 99,393 shares of the company’s stock worth $16,698,000 after buying an additional 51,416 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Cardinal Health by 298.3% during the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after acquiring an additional 615,398 shares during the period. Nomura Holdings Inc. boosted its stake in shares of Cardinal Health by 568.0% during the 2nd quarter. Nomura Holdings Inc. now owns 85,293 shares of the company’s stock worth $14,329,000 after acquiring an additional 72,525 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Cardinal Health by 19.1% in the 2nd quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock worth $324,402,000 after acquiring an additional 309,335 shares during the period. Finally, Columbus Macro LLC increased its stake in Cardinal Health by 102.8% in the 3rd quarter. Columbus Macro LLC now owns 36,529 shares of the company’s stock valued at $5,734,000 after purchasing an additional 18,516 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock opened at $214.85 on Friday. The stock has a market capitalization of $51.05 billion, a P/E ratio of 32.41, a P/E/G ratio of 1.44 and a beta of 0.65. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $216.51. The firm’s 50-day moving average is $206.24 and its two-hundred day moving average is $177.90.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.33. Cardinal Health had a net margin of 0.68% and a negative return on equity of 84.37%. The business had revenue of $64.01 billion for the quarter, compared to the consensus estimate of $59.41 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Friday, January 2nd were issued a dividend of $0.5107 per share. The ex-dividend date was Friday, January 2nd. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

A number of analysts have commented on CAH shares. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Jefferies Financial Group boosted their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a research note on Tuesday, November 18th. UBS Group lifted their target price on shares of Cardinal Health from $185.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Morgan Stanley increased their price target on shares of Cardinal Health from $224.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $224.73.

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.