Fifth Third Bancorp Sells 149 Shares of Cardinal Health, Inc. (NYSE:CAH)

Fifth Third Bancorp decreased its position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,458 shares of the company’s stock after selling 149 shares during the period. Fifth Third Bancorp’s holdings in Cardinal Health were worth $1,592,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after buying an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after acquiring an additional 33,388 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after acquiring an additional 346,362 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH opened at $127.59 on Wednesday. The company’s 50-day simple moving average is $121.75 and its two-hundred day simple moving average is $113.66. The stock has a market capitalization of $30.88 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $131.29.

Cardinal Health (NYSE:CAHGet Free Report) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent research reports. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Morgan Stanley increased their target price on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $134.64.

Check Out Our Latest Research Report on Cardinal Health

Cardinal Health Profile

(Free Report)

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.

Further Reading

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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