Rehmann Capital Advisory Group Sells 189 Shares of Cardinal Health, Inc. (NYSE:CAH)

Rehmann Capital Advisory Group trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.5% in the 3rd quarter, Holdings Channel reports. The fund owned 2,723 shares of the company’s stock after selling 189 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Cardinal Health were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Paragon Capital Management Inc. lifted its position in shares of Cardinal Health by 0.7% in the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after acquiring an additional 99 shares during the period. Midland Wealth Advisors LLC lifted its position in Cardinal Health by 4.2% in the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after purchasing an additional 100 shares during the period. Aptus Capital Advisors LLC boosted its stake in Cardinal Health by 5.1% during the second quarter. Aptus Capital Advisors LLC now owns 2,071 shares of the company’s stock worth $204,000 after buying an additional 100 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Cardinal Health by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,891 shares of the company’s stock valued at $2,054,000 after buying an additional 100 shares during the period. Finally, Huntington National Bank increased its holdings in Cardinal Health by 0.9% in the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock valued at $1,193,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Finally, UBS Group upped their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.75.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $118.06 on Friday. The business has a fifty day moving average of $117.12 and a 200-day moving average of $108.35. The firm has a market cap of $28.57 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.23.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the company posted $1.73 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

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

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.