Cardinal Health, Inc. (NYSE:CAH) Shares Sold by MML Investors Services LLC

MML Investors Services LLC cut its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 42.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,343 shares of the company's stock after selling 16,931 shares during the period. MML Investors Services LLC's holdings in Cardinal Health were worth $2,580,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC purchased a new position in Cardinal Health in the 3rd quarter worth about $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Cardinal Health during the 3rd quarter valued at about $1,691,000. National Wealth Management Group LLC purchased a new position in shares of Cardinal Health during the third quarter worth approximately $903,000. Finally, Cerity Partners LLC raised its stake in shares of Cardinal Health by 35.9% during the third quarter. Cerity Partners LLC now owns 32,964 shares of the company's stock valued at $3,643,000 after acquiring an additional 8,707 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAH. Barclays increased their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $101.00 to $127.00 in a research note on Friday. UBS Group upped their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a "neutral" rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.75.

Cardinal Health Trading Down 1.3 %

Shares of CAH traded down $1.54 during midday trading on Monday, hitting $116.56. 1,939,727 shares of the company's stock traded hands, compared to its average volume of 2,100,141. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The firm's fifty day moving average is $117.22 and its 200-day moving average is $108.67. The stock has a market capitalization of $28.21 billion, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $52.28 billion during 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 was down 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid 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 1.74%. Cardinal Health's payout ratio is 39.30%.

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.