National Bank of Canada FI Sells 106,883 Shares of Cardinal Health, Inc. (NYSE:CAH)

National Bank of Canada FI lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 57.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 79,732 shares of the company’s stock after selling 106,883 shares during the period. National Bank of Canada FI’s holdings in Cardinal Health were worth $8,181,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Cornerstone Planning Group LLC purchased a new stake in shares of Cardinal Health in the third quarter valued at $26,000. BKM Wealth Management LLC bought a new position in Cardinal Health during the 4th quarter valued at about $30,000. Hexagon Capital Partners LLC grew its holdings in Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in Cardinal Health in the 4th quarter worth about $36,000. Finally, Headlands Technologies LLC purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $47,000. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAH has been the topic of several recent analyst reports. UBS Group increased their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Friday. SVB Leerink assumed coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Evercore ISI boosted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.00.

Cardinal Health Stock Up 0.6 %

CAH opened at $98.06 on Friday. The company has a market cap of $23.88 billion, a PE ratio of 43.58, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The company has a 50-day moving average price of $108.11 and a 200 day moving average price of $105.16.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.34 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a $0.5056 dividend. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 88.89%.

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.