Mackenzie Financial Corp Decreases Position in Cardinal Health, Inc. (NYSE:CAH)

Mackenzie Financial Corp cut its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 46.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,272 shares of the company's stock after selling 77,001 shares during the period. Mackenzie Financial Corp's holdings in Cardinal Health were worth $10,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health during the fourth quarter worth $26,000. Promus Capital LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $30,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Up 0.3%

Shares of NYSE:CAH traded up $0.47 during midday trading on Friday, reaching $154.46. The company's stock had a trading volume of 2,759,499 shares, compared to its average volume of 2,229,497. The firm has a market cap of $36.87 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $156.44. The business has a 50 day moving average price of $141.70 and a 200 day moving average price of $130.26.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 earnings per share. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's payout ratio is 31.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America upped their price target on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Argus set a $148.00 price objective on Cardinal Health in a report on Tuesday, February 4th. Citigroup reiterated a "neutral" rating on shares of Cardinal Health in a report on Thursday, May 1st. Finally, Mizuho boosted their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $146.43.

Cardinal Health 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.