Moors & Cabot Inc. Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Moors & Cabot Inc. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 23.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,406 shares of the company’s stock after selling 717 shares during the quarter. Moors & Cabot Inc.’s holdings in Cardinal Health were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Eastern Bank bought a new position in Cardinal Health during the 3rd quarter worth about $25,000. Frazier Financial Advisors LLC boosted its stake in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new position in Cardinal Health during the second quarter valued at approximately $27,000. Hara Capital LLC bought a new position in Cardinal Health in the third quarter worth approximately $31,000. Finally, LRI Investments LLC purchased a new stake in Cardinal Health during the first quarter worth $32,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $121.84 on Friday. The stock has a 50-day moving average of $113.90 and a two-hundred day moving average of $105.91. The stock has a market cap of $29.49 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.54 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 earnings per share. Analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced 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. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. Cardinal Health’s payout ratio is 39.30%.

Analyst Ratings Changes

CAH has been the subject of several recent research reports. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. 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 research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.