Cardinal Health, Inc. $CAH Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 83,000 shares of the company’s stock after selling 4,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Cardinal Health were worth $17,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. SJS Investment Consulting Inc. lifted its position in Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Aventura Private Wealth LLC acquired a new stake in Cardinal Health in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp lifted its position in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the period. JPL Wealth Management LLC acquired a new stake in Cardinal Health in the third quarter valued at about $31,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Cardinal Health in the third quarter valued at about $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $213.85 on Monday. Cardinal Health, Inc. has a 1 year low of $129.52 and a 1 year high of $233.60. The firm’s 50-day simple moving average is $217.24 and its 200-day simple moving average is $203.22. The firm has a market cap of $50.32 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a $0.5107 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health’s dividend payout ratio is 29.35%.

Analyst Ratings Changes

CAH has been the subject of a number of research reports. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. TD Cowen lifted their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. Finally, Jefferies Financial Group lifted their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.33.

Cardinal Health 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.