Tidal Investments LLC Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Tidal Investments LLC cut its stake in Cardinal Health, Inc. (NYSE:CAH) by 19.1% in the third quarter, Holdings Channel.com reports. The firm owned 16,223 shares of the company’s stock after selling 3,821 shares during the quarter. Tidal Investments LLC’s holdings in Cardinal Health were worth $1,785,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Cardinal Health in the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC grew its position in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in shares of Cardinal Health in the third quarter valued at approximately $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health in the second quarter worth approximately $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 0.6 %

Shares of NYSE CAH opened at $115.81 on Wednesday. The stock has a market cap of $28.03 billion, a P/E ratio of 22.53, a PEG ratio of 1.47 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.23. The business’s fifty day simple moving average is $117.28 and its 200-day simple moving average is $108.78.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Argus increased their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Barclays increased their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.50.

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.