MAI Capital Management Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH)

MAI Capital Management lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 75.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,269 shares of the company’s stock after selling 13,129 shares during the quarter. MAI Capital Management’s holdings in Cardinal Health were worth $472,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CAH. Eastern Bank purchased a new position in shares of Cardinal Health during the 3rd quarter worth $25,000. Cultivar Capital Inc. acquired a new position in Cardinal Health in the second quarter valued at about $27,000. Frazier Financial Advisors LLC increased its position in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $29,000. Finally, Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the topic of a number of research reports. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Morgan Stanley lifted their target price on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. UBS Group upped their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Evercore ISI upped their price objective on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

NYSE:CAH opened at $121.84 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a market cap of $29.49 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.48 and a beta of 0.60. The stock has a 50-day simple moving average of $113.90 and a 200-day simple moving average of $105.86.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $50.90 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Cardinal Health Company Profile

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.