Harvest Fund Management Co. Ltd Lowers Stake in Cardinal Health, Inc. (NYSE:CAH)

Harvest Fund Management Co. Ltd lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 59.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 496 shares of the company’s stock after selling 722 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Cardinal Health were worth $50,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CAH. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health during the third quarter worth $26,000. BKM Wealth Management LLC purchased a new position in Cardinal Health during the fourth quarter valued at $30,000. Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health during the fourth quarter valued at $36,000. Headlands Technologies LLC purchased a new position in Cardinal Health during the third quarter valued at $47,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Cardinal Health during the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CAH shares. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Barclays began coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. UBS Group lifted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, SVB Leerink began coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Trading Down 0.6 %

Cardinal Health stock opened at $103.20 on Friday. The firm has a 50-day moving average price of $109.51 and a 200-day moving average price of $104.67. The firm has a market capitalization of $25.10 billion, a PE ratio of 40.63, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $1.32 EPS. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

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.