F M Investments LLC Cuts Position in Cardinal Health, Inc. (NYSE:CAH)

F M Investments LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,226 shares of the company’s stock after selling 420 shares during the period. F M Investments LLC’s holdings in Cardinal Health were worth $1,636,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new position in Cardinal Health in the fourth quarter worth $209,000. Nordea Investment Management AB lifted its holdings in Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares during the last quarter. Vest Financial LLC raised its holdings in Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after buying an additional 38,769 shares during the period. Bellwether Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $6,290,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Cardinal Health by 30.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock worth $54,618,000 after buying an additional 126,668 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock traded up $0.54 during midday trading on Tuesday, reaching $103.37. The stock had a trading volume of 2,477,341 shares, compared to its average volume of 2,276,904. The firm’s fifty day simple moving average is $109.56 and its 200-day simple moving average is $104.60. Cardinal Health, Inc. has a 1-year low of $77.56 and a 1-year high of $116.04. The stock has a market capitalization of $25.14 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. Cardinal Health’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.32 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CAH shares. SVB Leerink started coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Finally, Barclays assumed coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $103.07.

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.