Tidal Investments LLC Reduces Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Tidal Investments LLC lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,223 shares of the company’s stock after selling 3,821 shares during the quarter. Tidal Investments LLC’s holdings in Cardinal Health were worth $1,785,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eastern Bank purchased a new stake in Cardinal Health during the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC grew its stake in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in Cardinal Health during the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at about $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.6 %

NYSE CAH opened at $115.81 on Wednesday. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.23. The stock has a 50-day moving average of $117.28 and a 200 day moving average of $108.78. The stock has a market capitalization of $28.03 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period in the previous year, the business earned $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. Equities analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.75%. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analysts Set New Price Targets

CAH has been the topic of several research analyst reports. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $127.50.

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.