HighTower Advisors LLC Has $10.07 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

HighTower Advisors LLC reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,098 shares of the company's stock after selling 11,835 shares during the period. HighTower Advisors LLC's holdings in Cardinal Health were worth $10,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CAH. Eastern Bank purchased a new stake in shares of Cardinal Health in the 3rd quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $27,000. Frazier Financial Advisors LLC increased its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health during the 2nd quarter valued at about $29,000. Finally, Hara Capital LLC acquired a new position in shares of Cardinal Health during the 3rd quarter valued at about $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Evercore ISI increased their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an "in-line" rating in a research report on Thursday, August 15th. Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an "outperform" rating in a research report on Thursday, August 15th. Finally, Morgan Stanley increased their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $124.58.

Cardinal Health Price Performance

CAH traded down $1.15 during trading hours on Monday, hitting $121.61. 2,087,082 shares of the stock were exchanged, compared to its average volume of 2,103,639. The stock has a 50-day simple moving average of $116.51 and a 200-day simple moving average of $107.90. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.23. The stock has a market cap of $29.43 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 1.53 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $50.90 billion. During the same period last year, the business posted $1.73 earnings per share. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health's dividend payout ratio (DPR) is 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.