Pitcairn Co. Sells 349 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pitcairn Co. lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,746 shares of the company’s stock after selling 349 shares during the period. Pitcairn Co.’s holdings in Cardinal Health were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new stake in Cardinal Health in the fourth quarter worth about $26,000. Promus Capital LLC purchased a new stake in Cardinal Health during the fourth quarter worth $30,000. Lee Danner & Bass Inc. purchased a new position in Cardinal Health in the fourth quarter valued at $35,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health in the fourth quarter worth about $41,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after acquiring an additional 144 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Mizuho lifted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley boosted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.14.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $129.37 on Friday. The business’s 50 day moving average price is $129.15 and its 200 day moving average price is $121.55. The company has a market cap of $31.25 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $139.50.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is presently 37.69%.

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.