Janney Montgomery Scott LLC Sells 21,190 Shares of Cardinal Health, Inc. (NYSE:CAH)

Janney Montgomery Scott LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.6% in the first quarter, HoldingsChannel reports. The fund owned 256,786 shares of the company’s stock after selling 21,190 shares during the period. Janney Montgomery Scott LLC’s holdings in Cardinal Health were worth $28,734,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cornerstone Wealth Management LLC purchased a new stake in shares of Cardinal Health in the 4th quarter worth approximately $209,000. Mather Group LLC. raised its position in shares of Cardinal Health by 2.5% in the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after purchasing an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Cardinal Health by 86.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after purchasing an additional 32,250 shares during the last quarter. Nordea Investment Management AB boosted its stake in Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after purchasing an additional 61,933 shares in the last quarter. Finally, Vest Financial LLC increased its stake in Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after purchasing an additional 38,769 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock traded up $0.19 during mid-day trading on Friday, reaching $95.89. 2,069,012 shares of the company’s stock traded hands, compared to its average volume of 2,015,749. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04. The firm has a 50 day moving average price of $99.18 and a two-hundred day moving average price of $104.26. The firm has a market capitalization of $23.36 billion, a PE ratio of 42.62, a price-to-earnings-growth ratio of 1.06 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.74 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAH shares. Robert W. Baird dropped their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company decreased their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Evercore ISI increased their price objective on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, Argus reduced their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $109.67.

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.