Ironwood Investment Counsel LLC Sells 163 Shares of Cardinal Health, Inc. (NYSE:CAH)

Ironwood Investment Counsel LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,065 shares of the company’s stock after selling 163 shares during the period. Ironwood Investment Counsel LLC’s holdings in Cardinal Health were worth $4,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec lifted its position in Cardinal Health by 230.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after acquiring an additional 333,095 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Cardinal Health by 4.7% in the third quarter. Fred Alger Management LLC now owns 31,052 shares of the company’s stock valued at $3,432,000 after purchasing an additional 1,383 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in Cardinal Health by 232.9% during the third quarter. Vinva Investment Management Ltd now owns 10,790 shares of the company’s stock worth $1,185,000 after buying an additional 7,549 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Cardinal Health by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 10,637 shares of the company’s stock worth $1,176,000 after buying an additional 1,200 shares in the last quarter. Finally, National Wealth Management Group LLC bought a new position in Cardinal Health during the 3rd quarter valued at $903,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE:CAH opened at $122.24 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The stock’s fifty day moving average price is $114.75 and its two-hundred day moving average price is $106.52. The company has a market cap 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 announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period last year, the firm earned $1.73 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share 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 paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CAH. Morgan Stanley upped their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Mizuho increased their price objective on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. UBS Group lifted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Argus increased their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Company 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.