BOK Financial Private Wealth Inc. Lowers Stake in Cardinal Health, Inc. $CAH

BOK Financial Private Wealth Inc. decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 34.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,426 shares of the company’s stock after selling 2,337 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Cardinal Health were worth $695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Strategy Asset Managers LLC purchased a new stake in Cardinal Health during the 3rd quarter worth $775,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after purchasing an additional 5,030 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Cardinal Health in the third quarter worth about $2,090,000. Atle Fund Management AB grew its stake in shares of Cardinal Health by 13.1% in the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after buying an additional 3,500 shares in the last quarter. Finally, National Pension Service raised its holdings in shares of Cardinal Health by 7.2% during the 3rd quarter. National Pension Service now owns 500,340 shares of the company’s stock valued at $78,533,000 after buying an additional 33,673 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH opened at $225.41 on Wednesday. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $230.81. The company has a 50-day moving average of $209.83 and a 200-day moving average of $183.49. The company has a market capitalization of $53.04 billion, a P/E ratio of 32.43, a PEG ratio of 1.42 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the company earned $1.93 earnings per share. Cardinal Health’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Mizuho upped their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Finally, Morgan Stanley set a $255.00 target price on Cardinal Health in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.20.

About Cardinal Health

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.