Stock Yards Bank & Trust Co. Decreases Position in Cardinal Health, Inc. (NYSE:CAH)

Stock Yards Bank & Trust Co. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,927 shares of the company’s stock after selling 500 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Cardinal Health were worth $766,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in Cardinal Health by 16.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,492 shares of the company’s stock valued at $540,000 after purchasing an additional 787 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Cardinal Health by 9.4% in the second quarter. Assenagon Asset Management S.A. now owns 10,385 shares of the company’s stock worth $1,021,000 after buying an additional 891 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Cardinal Health in the second quarter worth about $105,000. Blue Trust Inc. boosted its position in Cardinal Health by 41.5% during the second quarter. Blue Trust Inc. now owns 3,400 shares of the company’s stock worth $334,000 after acquiring an additional 998 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Cardinal Health by 15.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 18,694 shares of the company’s stock valued at $1,838,000 after acquiring an additional 2,488 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group raised their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Robert W. Baird boosted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.58.

Cardinal Health Trading Up 0.0 %

CAH opened at $117.46 on Friday. The stock’s 50-day moving average price is $117.00 and its 200 day moving average price is $108.20. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.23. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.53 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS 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 net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 earnings per share. On average, research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.72%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Cardinal Health Company 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.