Bank of Montreal Can Has $27.54 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Bank of Montreal Can lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 37.1% during the third quarter, Holdings Channel reports. The fund owned 250,883 shares of the company’s stock after selling 148,163 shares during the quarter. Bank of Montreal Can’s holdings in Cardinal Health were worth $27,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CAH. Point72 Asset Management L.P. acquired a new position in shares of Cardinal Health during the second quarter valued at about $90,440,000. Pacer Advisors Inc. raised its stake in Cardinal Health by 9.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after buying an additional 370,181 shares during the period. Wedge Capital Management L L P NC bought a new position in Cardinal Health in the third quarter worth approximately $30,820,000. American Century Companies Inc. grew its stake in Cardinal Health by 17.7% in the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after acquiring an additional 242,608 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Cardinal Health by 63.2% during the second quarter. Squarepoint Ops LLC now owns 485,238 shares of the company’s stock valued at $47,709,000 after acquiring an additional 187,955 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Morgan Stanley upped their price target on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

CAH opened at $122.24 on Friday. The firm has a market cap of $29.58 billion, a P/E ratio of 23.78, a PEG ratio of 1.53 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14. The firm has a 50-day moving average of $114.75 and a 200 day moving average of $106.52.

Cardinal Health (NYSE:CAH) last released its earnings results 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. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate 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 revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. Equities research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Cardinal Health 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.