Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Brookstone Capital Management

Brookstone Capital Management lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,018 shares of the company’s stock after selling 1,025 shares during the period. Brookstone Capital Management’s holdings in Cardinal Health were worth $1,111,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Norges Bank acquired a new position in Cardinal Health during the fourth quarter worth about $220,230,000. Moneta Group Investment Advisors LLC purchased a new stake in Cardinal Health in the fourth quarter valued at approximately $215,893,000. Ameriprise Financial Inc. grew its holdings in Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after purchasing an additional 1,862,291 shares during the period. Marshall Wace LLP grew its holdings in Cardinal Health by 1,232.2% in the second quarter. Marshall Wace LLP now owns 1,365,374 shares of the company’s stock valued at $129,123,000 after purchasing an additional 1,262,881 shares during the period. Finally, Nomura Holdings Inc. grew its holdings in Cardinal Health by 677.5% in the first quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock valued at $101,986,000 after purchasing an additional 1,177,066 shares during the period. Institutional investors and hedge funds own 86.01% of the company’s stock.

Cardinal Health Trading Down 1.4 %

CAH opened at $111.01 on Friday. Cardinal Health, Inc. has a twelve month low of $68.53 and a twelve month high of $116.04. The firm has a market cap of $27.00 billion, a price-to-earnings ratio of 43.70, a PEG ratio of 1.08 and a beta of 0.68. The company has a fifty day simple moving average of $108.03 and a 200 day simple moving average of $101.36.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same period in the prior year, the firm posted $1.32 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Cardinal Health, Inc. will post 7.29 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.5006 per share. The ex-dividend date is Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CAH shares. UBS Group boosted their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company initiated coverage on shares of Cardinal Health in a research note on Thursday, December 14th. They set an “underweight” rating and a $96.00 price objective for the company. Barclays initiated coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective for the company. SVB Leerink initiated coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.07.

View Our Latest Analysis on Cardinal Health

Cardinal Health Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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