Park National Corp OH Sells 12,300 Shares of Cardinal Health, Inc. (NYSE:CAH)

Park National Corp OH lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,607 shares of the company's stock after selling 12,300 shares during the period. Park National Corp OH's holdings in Cardinal Health were worth $10,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock valued at $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Alpha Cubed Investments LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cardinal Health during the 3rd quarter worth approximately $1,691,000. Finally, National Wealth Management Group LLC acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $903,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the stock from $130.00 to $144.00 in a report on Wednesday. Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Mizuho assumed coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 target price for the company. Wells Fargo & Company upgraded shares of Cardinal Health from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Finally, Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $132.00 to $145.00 in a research note on Monday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $131.71.

Cardinal Health Stock Performance

CAH traded up $1.16 during trading hours on Wednesday, reaching $122.56. The company's stock had a trading volume of 2,261,854 shares, compared to its average volume of 2,325,971. The company's 50-day moving average is $119.49 and its 200-day moving average is $110.76. The firm has a market cap of $29.66 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.23.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results 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. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts' expectations of $50.90 billion. During the same period in the prior year, the firm earned $1.73 EPS. The business's revenue was down 4.3% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health's dividend payout ratio is 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.