PDT Partners LLC Cuts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

PDT Partners LLC trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 12.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 41,200 shares of the company’s stock after selling 5,600 shares during the period. PDT Partners LLC’s holdings in Cardinal Health were worth $4,553,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares during the period. ProShare Advisors LLC grew its holdings in Cardinal Health by 5.1% during the 2nd 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 in the last quarter. Renaissance Technologies LLC raised its position in shares of Cardinal Health by 7.1% during the second quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after buying an additional 111,137 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Cardinal Health by 17.7% in the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after buying an additional 242,608 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after acquiring an additional 33,388 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.3 %

NYSE CAH opened at $122.24 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The firm has a market capitalization of $29.58 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.53 and a beta of 0.60. The company has a fifty day moving average of $114.75 and a two-hundred day moving average of $106.52.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

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

Analysts Set New Price Targets

CAH has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a report on Thursday, August 15th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. UBS Group increased their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.