Columbus Macro LLC Decreases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Columbus Macro LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,928 shares of the company’s stock after selling 1,259 shares during the quarter. Columbus Macro LLC’s holdings in Cardinal Health were worth $1,448,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Cardinal Health in the first quarter worth approximately $99,000. Gateway Investment Advisers LLC grew its holdings in shares of Cardinal Health by 53.8% in the first quarter. Gateway Investment Advisers LLC now owns 4,791 shares of the company’s stock worth $536,000 after acquiring an additional 1,675 shares during the period. Global Assets Advisory LLC purchased a new stake in Cardinal Health during the first quarter valued at $1,881,000. Peak Financial Advisors LLC bought a new position in Cardinal Health in the first quarter valued at about $2,801,000. Finally, High Net Worth Advisory Group LLC purchased a new position in Cardinal Health in the first quarter worth about $235,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Robert W. Baird reduced their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Argus reduced their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company reduced their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Finally, Evercore ISI lifted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently 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 $2.34 during midday trading on Wednesday, reaching $100.79. 418,479 shares of the stock traded hands, compared to its average volume of 2,189,747. The stock has a market capitalization of $24.55 billion, a PE ratio of 45.84, a P/E/G ratio of 1.19 and a beta of 0.64. The company’s 50 day moving average is $100.31 and its 200 day moving average is $104.65. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04.

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

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is 88.89%.

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.