Continuum Advisory LLC Sells 239 Shares of Cardinal Health, Inc. (NYSE:CAH)

Continuum Advisory LLC trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 40.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 359 shares of the company’s stock after selling 239 shares during the quarter. Continuum Advisory LLC’s holdings in Cardinal Health were worth $44,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Eastern Bank purchased a new position in Cardinal Health during the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC raised its stake 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 buying an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Cardinal Health during the second quarter worth $27,000. Hara Capital LLC bought a new stake in Cardinal Health during the 3rd quarter valued at $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health in the 2nd quarter valued at $29,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAH. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Evercore ISI increased their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Finally, Robert W. Baird upped their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.58.

Cardinal Health Stock Performance

Shares of CAH stock opened at $117.46 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23. The firm has a market capitalization of $28.43 billion, a PE ratio of 22.85, a P/E/G ratio of 1.53 and a beta of 0.61. The stock’s 50-day simple moving average is $117.00 and its 200-day simple moving average is $108.20.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the company earned $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared 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 1.72%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 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.