Cardinal Health Inc (NYSE:CAH) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC lessened its stake in Cardinal Health Inc (NYSE:CAH) by 13.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,410 shares of the company’s stock after selling 1,900 shares during the quarter. Welch & Forbes LLC’s holdings in Cardinal Health were worth $628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in shares of Cardinal Health in the 3rd quarter worth about $28,000. Advantage Investment Management LLC bought a new position in shares of Cardinal Health during the third quarter worth about $31,000. NuWave Investment Management LLC lifted its position in shares of Cardinal Health by 358.1% during the third quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares during the last quarter. WealthStone Inc. bought a new position in shares of Cardinal Health during the second quarter worth about $38,000. Finally, CSat Investment Advisory L.P. grew its stake in Cardinal Health by 98.4% in the second quarter. CSat Investment Advisory L.P. now owns 843 shares of the company’s stock worth $39,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 88.93% of the company’s stock.

Shares of NYSE:CAH opened at $53.93 on Friday. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 10.35, a price-to-earnings-growth ratio of 1.75 and a beta of 1.32. Cardinal Health Inc has a 1-year low of $41.03 and a 1-year high of $56.88. The company’s fifty day moving average is $52.30 and its two-hundred day moving average is $48.90. The company has a debt-to-equity ratio of 8.15, a quick ratio of 0.50 and a current ratio of 1.05.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.18. Cardinal Health had a negative net margin of 2.81% and a positive return on equity of 32.25%. The business had revenue of $37.34 billion during the quarter, compared to analyst estimates of $36.75 billion. During the same period in the previous year, the business posted $1.29 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts expect that Cardinal Health Inc will post 5.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.481 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.92 dividend on an annualized basis and a yield of 3.57%. Cardinal Health’s dividend payout ratio is currently 36.36%.

CAH has been the subject of several research analyst reports. TheStreet lowered Cardinal Health from a “c+” rating to a “d” rating in a report on Thursday, November 7th. Zacks Investment Research raised Cardinal Health from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, November 11th. Guggenheim lowered Cardinal Health from a “buy” rating to a “neutral” rating in a research report on Monday, December 16th. Finally, ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $50.50.

Cardinal Health Profile

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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