Sivik Global Healthcare LLC Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

Sivik Global Healthcare LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 25.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,000 shares of the company's stock after selling 15,000 shares during the quarter. Cardinal Health accounts for about 2.1% of Sivik Global Healthcare LLC's holdings, making the stock its 22nd largest holding. Sivik Global Healthcare LLC's holdings in Cardinal Health were worth $4,973,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Metis Global Partners LLC increased its stake in Cardinal Health by 2.0% during the 3rd quarter. Metis Global Partners LLC now owns 12,346 shares of the company's stock worth $1,364,000 after buying an additional 237 shares in the last quarter. Huntington National Bank increased its stake in shares of Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company's stock worth $1,193,000 after acquiring an additional 100 shares during the last quarter. Community Bank & Trust Waco Texas raised its holdings in shares of Cardinal Health by 3.2% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 5,184 shares of the company's stock worth $573,000 after acquiring an additional 160 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Cardinal Health by 11.5% in the third quarter. Victory Capital Management Inc. now owns 969,521 shares of the company's stock valued at $107,151,000 after purchasing an additional 99,973 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its position in Cardinal Health by 11.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,618 shares of the company's stock worth $510,000 after purchasing an additional 472 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of CAH stock traded down $4.01 during trading hours on Thursday, reaching $121.32. 3,171,499 shares of the stock were exchanged, compared to its average volume of 2,112,164. The firm has a market capitalization of $29.36 billion, a P/E ratio of 24.38, a P/E/G ratio of 1.54 and a beta of 0.60. The business's fifty day moving average is $112.81 and its two-hundred day moving average is $104.96. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $50.90 billion. During the same period in the previous year, the business earned $1.73 EPS. Cardinal Health's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share 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. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.67%. Cardinal Health's dividend payout ratio (DPR) is presently 39.30%.

Insider Activity at Cardinal Health

In related news, CEO Jason M. Hollar sold 26,716 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $108.87, for a total value of $2,908,570.92. Following the completion of the sale, the chief executive officer now owns 244,091 shares in the company, valued at $26,574,187.17. This trade represents a 9.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle D. Greene sold 4,000 shares of the firm's stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $108.85, for a total transaction of $435,400.00. Following the transaction, the insider now owns 19,242 shares of the company's stock, valued at $2,094,491.70. This trade represents a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,067 shares of company stock worth $10,474,413 in the last 90 days. 0.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAH shares. Morgan Stanley lifted their target price on Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Mizuho boosted their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Wells Fargo & Company increased their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an "underweight" rating in a research note on Thursday, August 15th. Barclays boosted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Argus increased their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average target price of $123.00.

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.