HL Financial Services LLC trimmed its holdings in shares of Cardinal Health Inc (NYSE:CAH) by 38.0% during the second quarter, Holdings Channel reports. The fund owned 6,280 shares of the company’s stock after selling 3,851 shares during the quarter. HL Financial Services LLC’s holdings in Cardinal Health were worth $307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CAH. Global X Management Co. LLC raised its position in shares of Cardinal Health by 8.4% in the 1st quarter. Global X Management Co. LLC now owns 11,087 shares of the company’s stock worth $695,000 after purchasing an additional 857 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of Cardinal Health by 58.0% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 9,530 shares of the company’s stock worth $597,000 after purchasing an additional 3,499 shares during the last quarter. FDx Advisors Inc. raised its position in shares of Cardinal Health by 52.6% in the 1st quarter. FDx Advisors Inc. now owns 43,964 shares of the company’s stock worth $2,756,000 after purchasing an additional 15,156 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of Cardinal Health by 470.5% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 86,459 shares of the company’s stock worth $5,386,000 after purchasing an additional 71,304 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Cardinal Health in the 1st quarter worth about $241,000. 89.98% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on CAH. Mizuho reaffirmed a “hold” rating and issued a $53.00 price target on shares of Cardinal Health in a research report on Sunday, August 12th. Robert W. Baird lowered their price target on Cardinal Health from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, August 7th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $56.00 price target on shares of Cardinal Health in a research report on Tuesday, August 7th. Argus lowered their price target on Cardinal Health from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, July 16th. Finally, Zacks Investment Research raised Cardinal Health from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $62.00.

Shares of NYSE:CAH opened at $51.90 on Monday. Cardinal Health Inc has a fifty-two week low of $48.14 and a fifty-two week high of $75.75. The company has a quick ratio of 0.53, a current ratio of 1.07 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.78 and a beta of 0.99.

Cardinal Health (NYSE:CAH) last issued its earnings results on Monday, August 6th. The company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. Cardinal Health had a return on equity of 22.59% and a net margin of 0.19%. The business had revenue of $35.35 billion during the quarter, compared to analyst estimates of $34.38 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. Cardinal Health’s revenue was up 7.2% on a year-over-year basis. sell-side analysts forecast that Cardinal Health Inc will post 5.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be given a dividend of $0.4763 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.91 annualized dividend and a dividend yield of 3.67%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48. Cardinal Health’s dividend payout ratio is presently 38.20%.

Cardinal Health Company Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.

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

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