Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 45.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,506 shares of the company’s stock after selling 78,302 shares during the quarter. Cardinal Health accounts for 0.4% of Quantbot Technologies LP’s investment portfolio, making the stock its 24th biggest position. Quantbot Technologies LP’s holdings in Cardinal Health were worth $10,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $90,440,000. Swedbank AB acquired a new stake in Cardinal Health in the first quarter valued at approximately $48,673,000. Pacer Advisors Inc. raised its stake in shares of Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after purchasing an additional 370,181 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Cardinal Health during the third quarter worth $30,820,000. Finally, American Century Companies Inc. lifted its position in shares of Cardinal Health by 17.7% during the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after purchasing an additional 242,608 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent analyst reports. Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley raised their target price on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird boosted their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Mizuho raised their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Price Performance

CAH stock opened at $121.77 on Tuesday. The firm has a market cap of $29.47 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14. The firm has a fifty day moving average price of $114.07 and a two-hundred day moving average price of $106.13.

Cardinal Health (NYSE:CAH) last posted 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. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.73 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

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

About Cardinal Health

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.