Massachusetts Financial Services Co. MA Trims Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Massachusetts Financial Services Co. MA reduced its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 68.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,087 shares of the company's stock after selling 93,614 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Cardinal Health were worth $4,762,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CAH. California State Teachers Retirement System grew its position in Cardinal Health by 1.7% in the 1st quarter. California State Teachers Retirement System now owns 402,696 shares of the company's stock valued at $45,062,000 after acquiring an additional 6,904 shares in the last quarter. Plato Investment Management Ltd grew its position in Cardinal Health by 5,609.6% in the 1st quarter. Plato Investment Management Ltd now owns 4,739 shares of the company's stock valued at $530,000 after acquiring an additional 4,656 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Cardinal Health in the 1st quarter valued at about $40,000. Wahed Invest LLC grew its position in Cardinal Health by 14.2% in the 1st quarter. Wahed Invest LLC now owns 4,806 shares of the company's stock valued at $538,000 after acquiring an additional 599 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Cardinal Health in the 1st quarter valued at about $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH opened at $122.45 on Wednesday. The business's fifty day moving average is $114.07 and its two-hundred day moving average is $106.13. The company has a market cap of $29.63 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. On average, analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. Cardinal Health's payout ratio is 39.30%.

Analysts Set New Price Targets

CAH has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a "neutral" rating in a research note on Wednesday, August 21st. Evercore ISI lifted their price objective on Cardinal Health from $105.00 to $115.00 and gave the company an "in-line" rating in a research note on Thursday, August 15th. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company lifted their price objective on Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $123.00.

About Cardinal Health

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.