F M Investments LLC Decreases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

F M Investments LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,226 shares of the company’s stock after selling 420 shares during the period. F M Investments LLC’s holdings in Cardinal Health were worth $1,636,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth about $209,000. Nordea Investment Management AB increased its holdings in shares of Cardinal Health by 50.5% in the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after buying an additional 61,933 shares during the period. Vest Financial LLC increased its holdings in shares of Cardinal Health by 15.9% in the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after buying an additional 38,769 shares during the period. Bellwether Advisors LLC purchased a new position in shares of Cardinal Health in the fourth quarter worth about $6,290,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Cardinal Health by 30.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock worth $54,618,000 after buying an additional 126,668 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CAH. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Barclays began coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Performance

Shares of CAH traded up $0.54 during mid-day trading on Tuesday, reaching $103.37. The company had a trading volume of 2,477,341 shares, compared to its average volume of 2,276,904. The firm has a 50-day moving average price of $109.56 and a 200 day moving average price of $104.60. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 40.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same period in the previous year, the firm posted $1.32 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Cardinal Health’s dividend payout ratio is currently 78.74%.

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.