MQS Management LLC Sells 2,770 Shares of Cardinal Health, Inc. (NYSE:CAH)

MQS Management LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 47.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,108 shares of the company’s stock after selling 2,770 shares during the quarter. MQS Management LLC’s holdings in Cardinal Health were worth $348,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. boosted its stake in Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after acquiring an additional 164 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after acquiring an additional 32,250 shares in the last quarter. Pinebridge Investments L.P. boosted its stake in Cardinal Health by 237.7% during the fourth quarter. Pinebridge Investments L.P. now owns 171,530 shares of the company’s stock worth $17,290,000 after acquiring an additional 120,740 shares in the last quarter. Tobam raised its holdings in Cardinal Health by 773.4% during the first quarter. Tobam now owns 49,111 shares of the company’s stock worth $5,496,000 after buying an additional 43,488 shares during the last quarter. Finally, Nomura Holdings Inc. raised its holdings in Cardinal Health by 12.3% during the fourth quarter. Nomura Holdings Inc. now owns 220,661 shares of the company’s stock worth $22,243,000 after buying an additional 24,222 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Up 0.2 %

Shares of CAH stock traded up $0.20 during trading hours on Thursday, hitting $96.91. 1,565,470 shares of the company’s stock were exchanged, compared to its average volume of 2,162,616. The company has a market capitalization of $23.60 billion, a PE ratio of 43.07, a PEG ratio of 1.06 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. The business’s 50 day simple moving average is $98.03 and its 200-day simple moving average is $103.64.

Cardinal Health (NYSE:CAH) last posted 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. The firm had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. Equities analysts anticipate 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 was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued 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 annualized dividend and a dividend yield of 2.09%. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

Wall Street Analyst Weigh In

CAH has been the topic of several research reports. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Evercore ISI lowered their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a report on Friday, July 19th. Robert W. Baird upped their price objective on shares of Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Finally, Argus reduced their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $109.67.

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.