Crossmark Global Holdings Inc. Sells 1,405 Shares of Cardinal Health, Inc. (NYSE:CAH)

Crossmark Global Holdings Inc. lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 72,587 shares of the company’s stock after selling 1,405 shares during the period. Crossmark Global Holdings Inc.’s holdings in Cardinal Health were worth $8,585,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CAH. Geode Capital Management LLC raised its holdings in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in shares of Cardinal Health by 1.5% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the period. Alpha Cubed Investments LLC bought a new position in Cardinal Health in the third quarter worth $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cardinal Health during the third quarter worth $1,691,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.2 %

Shares of NYSE:CAH opened at $127.81 on Wednesday. The firm has a market cap of $30.93 billion, a P/E ratio of 24.87, a P/E/G ratio of 1.54 and a beta of 0.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.89. The company’s 50-day moving average price is $120.92 and its two-hundred day moving average price is $112.47.

Cardinal Health (NYSE:CAH) last released 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 business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the firm earned $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.58%. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Morgan Stanley upped their price objective on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.29.

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.