Pitcairn Co. Sells 3,409 Shares of Cardinal Health, Inc. (NYSE:CAH)

Pitcairn Co. reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 27.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,095 shares of the company’s stock after selling 3,409 shares during the quarter. Pitcairn Co.’s holdings in Cardinal Health were worth $1,005,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Axxcess Wealth Management LLC acquired a new position in Cardinal Health during the 1st quarter worth approximately $217,000. Price T Rowe Associates Inc. MD raised its position in shares of Cardinal Health by 0.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,730,854 shares of the company’s stock worth $305,584,000 after purchasing an additional 14,030 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in shares of Cardinal Health by 4.1% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 7,931 shares of the company’s stock worth $887,000 after purchasing an additional 310 shares in the last quarter. California State Teachers Retirement System grew its position in Cardinal Health by 1.7% in the 1st quarter. California State Teachers Retirement System now owns 402,696 shares of the company’s stock valued at $45,062,000 after purchasing an additional 6,904 shares during the period. Finally, Hancock Whitney Corp increased its stake in Cardinal Health by 143.9% during the 1st quarter. Hancock Whitney Corp now owns 166,964 shares of the company’s stock valued at $18,683,000 after purchasing an additional 98,517 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 1.3 %

Cardinal Health stock opened at $121.84 on Monday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The business has a 50-day simple moving average of $113.90 and a 200 day simple moving average of $105.96. The stock has a market cap of $29.49 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.54 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its 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 negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the business earned $1.73 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.83 earnings per share for the current 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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analyst Ratings Changes

CAH has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Morgan Stanley boosted their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Wells Fargo & Company raised their target price on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, Mizuho raised their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

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.