KBC Group NV Reduces Holdings in Cardinal Health, Inc. (NYSE:CAH)

KBC Group NV reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.3% during the fourth quarter, HoldingsChannel reports. The firm owned 810,427 shares of the company’s stock after selling 10,635 shares during the quarter. KBC Group NV’s holdings in Cardinal Health were worth $95,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Eastern Bank acquired a new position in Cardinal Health in the 3rd quarter worth $25,000. Frazier Financial Advisors LLC increased its position 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 worth $28,000 after acquiring an additional 104 shares during the last quarter. Hara Capital LLC acquired a new position in shares of Cardinal Health in the third quarter worth about $31,000. AM Squared Ltd purchased a new position in Cardinal Health in the third quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in Cardinal Health during the 3rd quarter valued at approximately $47,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the topic of a number of recent analyst reports. Citigroup upped their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Mizuho started coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.64.

Cardinal Health Trading Down 0.3 %

NYSE:CAH opened at $128.89 on Monday. The stock has a 50 day moving average of $121.36 and a 200-day moving average of $113.16. The firm has a market capitalization of $31.19 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $129.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the business earned $1.73 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.