Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Lessened by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,048 shares of the company’s stock after selling 266 shares during the period. Sage Mountain Advisors LLC’s holdings in Cardinal Health were worth $242,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC grew its position in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. grew its position in Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares in the last quarter. Amundi grew its position in Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Cardinal Health by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, Morgan Stanley upped their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Price Performance

Cardinal Health stock opened at $126.87 on Thursday. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The firm has a fifty day moving average price of $125.99 and a two-hundred day moving average price of $119.14.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.