First Financial Bank Trust Division Sells 500 Shares of Cardinal Health, Inc. (NYSE:CAH)

First Financial Bank Trust Division cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,593 shares of the company’s stock after selling 500 shares during the period. First Financial Bank Trust Division’s holdings in Cardinal Health were worth $353,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Cardinal Health during the 4th quarter valued at $258,499,000. California Public Employees Retirement System grew its position in shares of Cardinal Health by 118.9% during the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after purchasing an additional 823,520 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Cardinal Health by 19.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after purchasing an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Cardinal Health in the 1st quarter worth approximately $56,454,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Cardinal Health by 265.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock valued at $73,577,000 after buying an additional 477,682 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the subject of several research analyst reports. Wells Fargo & Company cut their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Robert W. Baird increased their price target on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Citigroup reduced their price objective on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. Evercore ISI lowered their target price on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Price Performance

Shares of NYSE:CAH traded down $3.24 on Monday, hitting $98.36. 2,318,596 shares of the company’s stock were exchanged, compared to its average volume of 2,152,806. The business’s 50 day simple moving average is $98.48 and its two-hundred day simple moving average is $103.36. The stock has a market capitalization of $23.96 billion, a price-to-earnings ratio of 43.72, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.74 earnings per share. Equities analysts forecast that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a $0.5056 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.06%. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

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.