Bridgewater Advisors Inc. Has $2.95 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Bridgewater Advisors Inc. cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,810 shares of the company’s stock after selling 861 shares during the period. Bridgewater Advisors Inc.’s holdings in Cardinal Health were worth $2,953,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eastern Bank purchased a new stake in shares of Cardinal Health during the third quarter worth $25,000. Frazier Financial Advisors LLC grew its position in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares in the last quarter. Hara Capital LLC bought a new stake in Cardinal Health in the third quarter worth approximately $31,000. AM Squared Ltd bought a new stake in Cardinal Health in the third quarter worth approximately $33,000. Finally, Carolina Wealth Advisors LLC acquired a new position in shares of Cardinal Health during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.6 %

Shares of NYSE:CAH opened at $126.27 on Monday. The firm has a market capitalization of $30.56 billion, a PE ratio of 24.57, a PEG ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $127.27. The business’s 50 day moving average is $120.75 and its 200-day moving average is $112.03.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping 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 firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CAH shares. Citigroup increased their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

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.