Sanctuary Advisors LLC Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Sanctuary Advisors LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 12.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,588 shares of the company's stock after selling 8,326 shares during the quarter. Sanctuary Advisors LLC's holdings in Cardinal Health were worth $7,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CAH. TD Private Client Wealth LLC grew its holdings in shares of Cardinal Health by 27.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 15,950 shares of the company's stock valued at $1,763,000 after purchasing an additional 3,449 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Cardinal Health by 1.5% during the third quarter. Toronto Dominion Bank now owns 120,461 shares of the company's stock valued at $13,313,000 after purchasing an additional 1,727 shares during the period. Neo Ivy Capital Management bought a new position in shares of Cardinal Health in the third quarter worth approximately $3,908,000. Coldstream Capital Management Inc. grew its holdings in Cardinal Health by 763.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 25,763 shares of the company's stock worth $2,883,000 after acquiring an additional 22,780 shares during the last quarter. Finally, Ashford Capital Management Inc. raised its stake in Cardinal Health by 7.1% in the third quarter. Ashford Capital Management Inc. now owns 17,585 shares of the company's stock worth $1,943,000 after buying an additional 1,170 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CAH shares. Argus upped their target price on Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. Wells Fargo & Company upgraded Cardinal Health from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $101.00 to $127.00 in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a report on Monday, November 4th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a "neutral" rating in a report on Wednesday, August 21st. 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 company presently has an average rating of "Moderate Buy" and an average target price of $126.75.

Cardinal Health Trading Up 0.5 %

CAH traded up $0.64 during trading hours on Friday, hitting $118.10. The company's stock had a trading volume of 1,413,636 shares, compared to its average volume of 2,100,808. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 22.98, a P/E/G ratio of 1.47 and a beta of 0.61. The business's 50-day moving average price is $117.12 and its 200-day moving average price is $108.45. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.23.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm 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%. The company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.71%. Cardinal Health's dividend payout ratio is presently 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.