Financial Advisors Network Inc. Reduces Stake in Cardinal Health, Inc. $CAH

Key Points

• Financial Advisors Network Inc. has reduced its stake in Cardinal Health, Inc. by 4.5%, selling 1,734 shares, bringing its total ownership to 36,969 shares valued at approximately $5.09 million.
• Several institutional investors, including Wellington Management Group and JPMorgan Chase & Co., are significantly increasing their holdings in Cardinal Health, indicating strong institutional interest in the stock.
• Cardinal Health has recently announced a quarterly dividend of $0.5107 per share, yielding 1.4% annually, with a payout ratio of 31.63%.

Financial Advisors Network Inc. lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,969 shares of the company's stock after selling 1,734 shares during the quarter. Cardinal Health accounts for 0.8% of Financial Advisors Network Inc.'s portfolio, making the stock its 28th biggest holding. Financial Advisors Network Inc.'s holdings in Cardinal Health were worth $5,093,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CAH. Wellington Management Group LLP boosted its position in shares of Cardinal Health by 1,666.7% in the first quarter. Wellington Management Group LLP now owns 2,384,192 shares of the company's stock worth $328,470,000 after purchasing an additional 2,249,241 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at $141,963,000. JPMorgan Chase & Co. boosted its holdings in Cardinal Health by 40.0% in the 1st quarter. JPMorgan Chase & Co. now owns 4,175,992 shares of the company's stock worth $575,327,000 after buying an additional 1,193,983 shares during the period. GAMMA Investing LLC increased its stake in Cardinal Health by 17,589.1% in the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock worth $132,940,000 after buying an additional 959,486 shares in the last quarter. Finally, Junto Capital Management LP purchased a new position in shares of Cardinal Health in the fourth quarter valued at about $92,811,000. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CAH shares. Evercore ISI cut their target price on Cardinal Health from $200.00 to $190.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. Jefferies Financial Group set a $150.00 price objective on shares of Cardinal Health in a report on Tuesday, August 12th. Morgan Stanley reissued an "overweight" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, UBS Group reiterated a "buy" rating on shares of Cardinal Health in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $149.49 on Monday. The stock has a market cap of $35.70 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.26 and a beta of 0.67. The stock has a 50 day moving average price of $159.63 and a 200-day moving average price of $144.72. Cardinal Health, Inc. has a one year low of $106.54 and a one year high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. Cardinal Health had a net margin of 0.70% and a negative return on equity of 74.45%. The company had revenue of $60.16 billion during the quarter, compared to analyst estimates of $60.91 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. Cardinal Health's quarterly revenue was up .5% compared to the same quarter last year. Sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.4%. Cardinal Health's payout ratio is currently 31.63%.

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.

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