Cardinal Health (NYSE:CAH) Trading Down 4.1% – Time to Sell?

Cardinal Health, Inc. (NYSE:CAH)’s share price fell 4.1% during mid-day trading on Friday . The stock traded as low as $124.21 and last traded at $122.98. 186,529 shares changed hands during trading, a decline of 91% from the average session volume of 2,094,810 shares. The stock had previously closed at $128.26.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CAH shares. UBS Group upped their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho started coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.64.

Cardinal Health Stock Performance

The firm has a fifty day simple moving average of $122.00 and a 200-day simple moving average of $113.85. The company has a market capitalization of $30.21 billion, a PE ratio of 24.30, a P/E/G ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.84 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a $0.5056 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.62%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Institutional Investors Weigh In On Cardinal Health

Several institutional investors and hedge funds have recently made changes to their positions in CAH. Eastern Bank bought a new stake in Cardinal Health during the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC increased 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 buying an additional 104 shares during the period. Hara Capital LLC bought a new stake in shares of Cardinal Health during the 3rd quarter worth about $31,000. AM Squared Ltd acquired a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $33,000. Finally, Kentucky Trust Co bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $41,000. 87.17% of the stock is owned by institutional investors and hedge funds.

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.