MWA Asset Management Sells 480 Shares of Cardinal Health, Inc. (NYSE:CAH)

MWA Asset Management lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 12.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,229 shares of the company’s stock after selling 480 shares during the quarter. MWA Asset Management’s holdings in Cardinal Health were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. Paragon Capital Management Inc. boosted its stake in Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after acquiring an additional 99 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Cardinal Health by 5.1% in the 2nd quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock valued at $204,000 after buying an additional 100 shares during the period. Midland Wealth Advisors LLC increased its position in Cardinal Health by 4.2% in the 2nd quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock valued at $245,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Cardinal Health by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock worth $2,054,000 after buying an additional 100 shares during the period. Finally, Huntington National Bank boosted its holdings in Cardinal Health by 0.9% in the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.4 %

Cardinal Health stock opened at $118.35 on Wednesday. The firm has a 50 day moving average price of $113.36 and a 200-day moving average price of $105.47. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.14. The company has a market capitalization of $28.64 billion, a P/E ratio of 23.03, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during 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 was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.73 earnings per share. Equities analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CAH shares. Evercore ISI boosted their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Argus lifted their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target 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.