Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,723 shares of the company’s stock after selling 189 shares during the period. Rehmann Capital Advisory Group’s holdings in Cardinal Health were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CAH. State Street Corp boosted its position in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC grew its stake in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after purchasing an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after purchasing an additional 111,137 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Morgan Stanley boosted their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $126.75.

Cardinal Health Stock Up 0.5 %

Shares of NYSE:CAH opened at $118.06 on Friday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.23. The firm has a fifty day moving average of $117.12 and a two-hundred day moving average of $108.35. The firm has a market capitalization of $28.57 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping 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 quarter in the prior year, the business posted $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. Equities research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is 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.