Cardinal Health, Inc. (NYSE:CAH) Shares Sold by First National Trust Co

First National Trust Co reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 14.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,234 shares of the company’s stock after selling 8,018 shares during the quarter. First National Trust Co’s holdings in Cardinal Health were worth $4,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $209,000. Mather Group LLC. raised its holdings in Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after purchasing an additional 164 shares in the last quarter. Nordea Investment Management AB raised its holdings in Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after purchasing an additional 61,933 shares in the last quarter. Vest Financial LLC raised its holdings in Cardinal Health by 15.9% during the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after purchasing an additional 38,769 shares in the last quarter. Finally, Certuity LLC purchased a new position in Cardinal Health during the fourth quarter worth about $228,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock traded down $4.07 during midday trading on Friday, hitting $98.91. 3,446,183 shares of the company were exchanged, compared to its average volume of 2,028,678. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The company’s fifty day moving average price is $109.10 and its 200-day moving average price is $105.01. The company has a market cap of $24.06 billion, a PE ratio of 43.96, a price-to-earnings-growth ratio of 1.03 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, analysts expect that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 2.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CAH. Robert W. Baird cut their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Friday. UBS Group increased their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $105.79.

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.