Cardinal Health, Inc. $CAH Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,948 shares of the company’s stock after selling 3,882 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Cardinal Health were worth $8,625,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SJS Investment Consulting Inc. boosted its holdings in shares of Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. American Capital Advisory LLC lifted its position in Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after buying an additional 208 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after buying an additional 71 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Cardinal Health during the third quarter worth $35,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Cowen upped their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Evercore boosted their target price on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Barclays increased their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Mizuho raised their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Performance

Shares of CAH opened at $222.30 on Tuesday. The company’s 50-day simple moving average is $215.95 and its 200-day simple moving average is $190.54. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The stock has a market capitalization of $52.31 billion, a PE ratio of 31.99, a P/E/G ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $1.93 earnings per share. Cardinal Health’s revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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

Cardinal Health 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.