CCM Investment Advisers LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 53.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,800 shares of the company’s stock after selling 4,450 shares during the quarter. CCM Investment Advisers LLC’s holdings in Cardinal Health were worth $254,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its holdings in Cardinal Health by 58.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 87,472 shares of the company’s stock valued at $5,854,000 after buying an additional 32,387 shares in the last quarter. American Century Companies Inc. grew its holdings in Cardinal Health by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 2,976,776 shares of the company’s stock valued at $199,206,000 after buying an additional 1,100,507 shares in the last quarter. Parnassus Investments CA grew its holdings in Cardinal Health by 19.1% in the 3rd quarter. Parnassus Investments CA now owns 1,400,000 shares of the company’s stock valued at $93,688,000 after buying an additional 225,000 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Cardinal Health by 3.5% in the 3rd quarter. State of Wisconsin Investment Board now owns 513,011 shares of the company’s stock valued at $34,331,000 after buying an additional 17,404 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its holdings in Cardinal Health by 1.8% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 52,114 shares of the company’s stock valued at $3,487,000 after buying an additional 900 shares in the last quarter. Institutional investors own 87.26% of the company’s stock.

Shares of Cardinal Health, Inc. (NYSE:CAH) traded down $1.13 during midday trading on Tuesday, reaching $60.25. The company’s stock had a trading volume of 4,783,076 shares, compared to its average volume of 3,070,000. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 1.33. Cardinal Health, Inc. has a 12 month low of $57.54 and a 12 month high of $84.88. The stock has a market cap of $19,170.00, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.88.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The company had revenue of $32.64 billion during the quarter, compared to analysts’ expectations of $33.48 billion. During the same period in the prior year, the company earned $1.24 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. analysts anticipate that Cardinal Health, Inc. will post 4.95 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, October 15th. Shareholders of record on Monday, October 2nd were issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is 53.94%.

Several brokerages have recently commented on CAH. BidaskClub lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Cowen and Company raised Cardinal Health to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, October 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cardinal Health in a research note on Sunday, September 10th. Jefferies Group LLC set a $77.00 price target on Cardinal Health and gave the company a “hold” rating in a research note on Tuesday, August 29th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $73.00 price target on shares of Cardinal Health in a research note on Sunday, September 17th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $75.72.

ILLEGAL ACTIVITY NOTICE: “CCM Investment Advisers LLC Has $254,000 Holdings in Cardinal Health, Inc. (CAH)” was first published by Watch List News and is owned by of Watch List News. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://www.watchlistnews.com/ccm-investment-advisers-llc-has-254000-holdings-in-cardinal-health-inc-cah/1685766.html.

About Cardinal Health

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAH).

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.