Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 32.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,265 shares of the company’s stock after selling 1,084 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Cardinal Health were worth $250,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CAH. Cerity Partners LLC lifted its holdings in shares of Cardinal Health by 35.9% in the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after purchasing an additional 8,707 shares during the last quarter. Meridian Wealth Management LLC increased its position in Cardinal Health by 10.5% in the third quarter. Meridian Wealth Management LLC now owns 8,771 shares of the company’s stock worth $969,000 after buying an additional 836 shares during the period. Raymond James Trust N.A. increased its position in Cardinal Health by 19.0% in the third quarter. Raymond James Trust N.A. now owns 12,656 shares of the company’s stock worth $1,399,000 after buying an additional 2,018 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after acquiring an additional 33,388 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after acquiring an additional 191,568 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $122.24 on Friday. The firm’s 50 day moving average is $114.75 and its 200-day moving average is $106.52. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The stock has a market capitalization of $29.58 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60.

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

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Barclays lifted their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. 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 report on Monday, November 4th. UBS Group lifted their target price on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their price target on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.