Tobam Cuts Position in Cardinal Health, Inc. (NYSE:CAH)

Tobam lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 20.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,289 shares of the company’s stock after selling 5,879 shares during the period. Tobam’s holdings in Cardinal Health were worth $2,636,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Paragon Capital Management Inc. increased its holdings in Cardinal Health by 0.7% in the 3rd quarter. Paragon Capital Management Inc. now owns 14,857 shares of the company’s stock valued at $1,642,000 after purchasing an additional 99 shares in the last quarter. Huntington National Bank boosted its position in shares of 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 buying an additional 100 shares during the period. Frazier Financial Advisors LLC grew its stake in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Cardinal Health by 4.9% during the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock valued at $249,000 after buying an additional 106 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CAH shares. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. UBS Group lifted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Barclays increased their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.87.

Cardinal Health Price Performance

CAH stock opened at $127.07 on Friday. The firm has a market cap of $30.70 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.46 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84. The firm has a fifty day moving average price of $122.35 and a two-hundred day moving average price of $114.92.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts expect that Cardinal Health, Inc. will post 7.92 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.