Cardinal Health, Inc. $CAH Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors trimmed its position in Cardinal Health by 16.2% to 435,661 shares (about $68.4M), while overall institutional ownership remains high at 87.17% and large funds like Norges Bank and Barclays materially increased or initiated stakes.
• Cardinal Health beat expectations for the quarter with EPS $2.63 vs. $2.31 expected and revenue of $65.63 billion (up 18.8% year-over-year), and analysts forecast about 7.95 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.5107 (annualized $2.04, ~0.9% yield, DPR 29.35%), and the stock trades near $218 with a P/E of 31.35 and a consensus analyst target of $245.67 (average rating: Moderate Buy).

Natixis Advisors LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 16.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 435,661 shares of the company's stock after selling 84,230 shares during the quarter. Natixis Advisors LLC owned about 0.18% of Cardinal Health worth $68,381,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Cardinal Health during the 2nd quarter worth about $584,420,000. Barclays PLC increased its holdings in shares of Cardinal Health by 109.3% in the third quarter. Barclays PLC now owns 1,584,214 shares of the company's stock valued at $248,658,000 after purchasing an additional 827,446 shares during the period. Acadian Asset Management LLC raised its stake in shares of Cardinal Health by 92.5% in the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company's stock worth $282,063,000 after purchasing an additional 807,063 shares during the last quarter. Prudential Financial Inc. boosted its position in Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company's stock valued at $148,402,000 after buying an additional 730,209 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company's stock worth $352,165,000 after buying an additional 707,495 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.9%

NYSE CAH opened at $217.89 on Monday. The stock has a market capitalization of $51.27 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.40 and a beta of 0.65. The stock has a 50-day moving average of $215.65 and a 200 day moving average of $190.05. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.Cardinal Health's quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. Equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Citigroup raised shares of Cardinal Health from a "neutral" rating to a "buy" rating and upped their price objective for the company from $190.00 to $244.00 in a report on Friday, January 9th. Leerink Partners raised their target price on shares of Cardinal Health from $268.00 to $275.00 and gave the stock an "outperform" rating in a report on Monday, March 2nd. Barclays increased their price target on Cardinal Health from $243.00 to $258.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 24th. UBS Group set a $260.00 price objective on Cardinal Health and gave the company a "buy" rating in a research note on Friday, February 6th. Finally, Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $245.67.

Cardinal Health Company 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.

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