Altrius Capital Management Inc Trims Stake in Cardinal Health, Inc. (NYSE:CAH)

Altrius Capital Management Inc cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,015 shares of the company’s stock after selling 1,766 shares during the quarter. Altrius Capital Management Inc’s holdings in Cardinal Health were worth $4,975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAH. Eastern Bank purchased a new position in Cardinal Health during the third quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health in the 2nd quarter valued at approximately $29,000. Hara Capital LLC purchased a new stake in Cardinal Health in the third quarter valued at approximately $31,000. Finally, LRI Investments LLC acquired a new position in Cardinal Health during the first quarter worth $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CAH shares. Mizuho boosted their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Morgan Stanley increased their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Citigroup lowered their price objective on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Stock Performance

NYSE CAH traded down $0.48 during trading on Friday, reaching $120.81. 276,395 shares of the company’s stock were exchanged, compared to its average volume of 2,103,897. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock has a market cap of $29.24 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.56 and a beta of 0.60. The company has a 50 day moving average price of $113.00 and a two-hundred day moving average price of $105.07.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during 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 firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. Research analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced 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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Insider Buying and Selling

In other Cardinal Health news, CFO Aaron E. Alt sold 2,323 shares of Cardinal Health stock in a transaction on Monday, August 19th. The shares were sold at an average price of $108.91, for a total value of $252,997.93. Following the transaction, the chief financial officer now directly owns 36,867 shares in the company, valued at approximately $4,015,184.97. The trade was a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michelle D. Greene sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $108.85, for a total value of $435,400.00. Following the sale, the insider now directly owns 19,242 shares of the company’s stock, valued at approximately $2,094,491.70. This represents a 17.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,351 shares of company stock worth $7,565,843 in the last ninety days. 0.09% of the stock is owned by corporate insiders.

Cardinal Health 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.