Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Lowered by Quantbot Technologies LP

Quantbot Technologies LP lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 45.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,506 shares of the company’s stock after selling 78,302 shares during the period. Cardinal Health makes up 0.4% of Quantbot Technologies LP’s portfolio, making the stock its 24th biggest position. Quantbot Technologies LP’s holdings in Cardinal Health were worth $10,224,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CAH. Eastern Bank acquired a new position in Cardinal Health during the 3rd quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the second quarter worth about $27,000. Frazier Financial Advisors LLC lifted its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Cardinal Health during the 2nd quarter valued at about $29,000. Finally, Hara Capital LLC bought a new stake in shares of Cardinal Health during the 3rd quarter worth about $31,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAH. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Morgan Stanley increased their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped 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. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Down 0.1 %

NYSE:CAH opened at $121.77 on Tuesday. The stock has a fifty day simple moving average of $114.07 and a 200 day simple moving average of $106.13. The firm has a market capitalization of $29.47 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.14.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the company posted $1.73 earnings per share. Equities analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current 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 given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Cardinal Health Company 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.