Cardinal Health, Inc. $CAH Shares Sold by Crawford Investment Counsel Inc.

Crawford Investment Counsel Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 408,014 shares of the company’s stock after selling 18,973 shares during the period. Crawford Investment Counsel Inc.’s holdings in Cardinal Health were worth $64,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Latitude Advisors LLC boosted its position in shares of Cardinal Health by 2.1% in the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock worth $408,000 after purchasing an additional 53 shares in the last quarter. WESPAC Advisors LLC increased its position in Cardinal Health by 1.0% during the 3rd quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock valued at $1,043,000 after buying an additional 63 shares in the last quarter. Kathmere Capital Management LLC raised its stake in Cardinal Health by 1.6% in the third quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after buying an additional 65 shares during the last quarter. Regal Investment Advisors LLC raised its stake in Cardinal Health by 2.1% in the third quarter. Regal Investment Advisors LLC now owns 3,109 shares of the company’s stock valued at $488,000 after buying an additional 65 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a research note on Friday, February 6th. Evercore boosted their target price on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Stock Performance

Shares of CAH stock opened at $216.95 on Friday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The firm has a market capitalization of $51.05 billion, a PE ratio of 31.22, a P/E/G ratio of 1.40 and a beta of 0.65. The stock’s 50-day simple moving average is $216.83 and its 200-day simple moving average is $192.20.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is presently 29.35%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.