Massachusetts Financial Services Co. MA Sells 93,614 Shares of Cardinal Health, Inc. (NYSE:CAH)

Massachusetts Financial Services Co. MA lowered its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 68.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 43,087 shares of the company’s stock after selling 93,614 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cardinal Health were worth $4,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Cardinal Health by 9.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after purchasing an additional 370,181 shares in the last quarter. ProShare Advisors LLC raised its stake in Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock valued at $172,974,000 after buying an additional 85,247 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Cardinal Health by 7.1% in the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock worth $165,517,000 after acquiring an additional 111,137 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Cardinal Health by 17.7% during the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after acquiring an additional 242,608 shares in the last quarter. Finally, Brandes Investment Partners LP raised its position in shares of Cardinal Health by 10.1% in the 2nd quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock worth $129,439,000 after purchasing an additional 121,107 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAH shares. Argus upped their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI lifted their target price on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Wells Fargo & Company upped their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Finally, Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Performance

CAH stock opened at $122.45 on Wednesday. The company has a market capitalization of $29.63 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. The company’s fifty day moving average price is $114.07 and its 200-day moving average price is $106.13. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. The business’s revenue was down 4.3% on a year-over-year basis. On average, research analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

About Cardinal Health

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.