Ontario Teachers Pension Plan Board Lowers Position in Cardinal Health, Inc. (NYSE:CAH)

Ontario Teachers Pension Plan Board decreased its stake in Cardinal Health, Inc. (NYSE:CAH) by 58.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,298 shares of the company’s stock after selling 22,793 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cardinal Health were worth $1,801,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Cardinal Health during the third quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health during the second quarter worth approximately $27,000. Frazier Financial Advisors LLC grew its stake in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health during the second quarter worth approximately $29,000. Finally, Hara Capital LLC acquired a new position in shares of Cardinal Health during the third quarter worth $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.4 %

Shares of CAH opened at $118.35 on Wednesday. The firm has a 50-day moving average price of $113.36 and a 200 day moving average price of $105.47. The firm has a market capitalization of $28.64 billion, a PE ratio of 23.03, a P/E/G ratio of 1.48 and a beta of 0.60. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the company earned $1.73 EPS. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts expect that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CAH shares. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday, August 15th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley upped their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

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.