Gibraltar Capital Management Inc. Sells 3,141 Shares of Cardinal Health, Inc. (NYSE:CAH)

Gibraltar Capital Management Inc. trimmed its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 29.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,632 shares of the company’s stock after selling 3,141 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in Cardinal Health were worth $769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC grew its stake in Cardinal Health by 1.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock valued at $844,000 after acquiring an additional 97 shares during the period. Schechter Investment Advisors LLC increased its stake in Cardinal Health by 4.1% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock valued at $250,000 after purchasing an additional 98 shares in the last quarter. Cypress Capital Group raised its holdings in Cardinal Health by 0.7% during the third quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock worth $1,487,000 after buying an additional 111 shares during the last quarter. Monument Capital Management lifted its stake in shares of Cardinal Health by 3.0% in the third quarter. Monument Capital Management now owns 4,639 shares of the company’s stock valued at $403,000 after buying an additional 136 shares in the last quarter. Finally, Guardian Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 1.7% during the third quarter. Guardian Wealth Advisors LLC now owns 8,318 shares of the company’s stock valued at $722,000 after buying an additional 140 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock traded up $0.12 during mid-day trading on Tuesday, hitting $103.03. 2,456,082 shares of the company traded hands, compared to its average volume of 2,250,772. The stock has a fifty day moving average price of $109.48 and a 200-day moving average price of $104.93. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 40.57, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.56 by $0.26. The firm 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%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.32 EPS. Sell-side analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is currently 78.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. SVB Leerink assumed coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. UBS Group raised their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.93.

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.