Cardinal Health, Inc. $CAH Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 54,948 shares of the company’s stock after selling 3,882 shares during the period. Jefferies Financial Group Inc.’s holdings in Cardinal Health were worth $8,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Cardinal Health in the second quarter valued at about $584,420,000. Barclays PLC grew its holdings in shares of Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock worth $248,658,000 after buying an additional 827,446 shares during the last quarter. Prudential Financial Inc. increased its position in Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after acquiring an additional 730,209 shares during the period. Victory Capital Management Inc. increased its position in Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after acquiring an additional 707,495 shares during the period. Finally, Voya Investment Management LLC raised its stake in Cardinal Health by 298.3% during the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after acquiring an additional 615,398 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.1%

Shares of CAH stock opened at $222.30 on Tuesday. The stock has a market cap of $52.31 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.40 and a beta of 0.65. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The business has a fifty day simple moving average of $215.95 and a 200-day simple moving average of $190.54.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 29.35%.

Wall Street Analyst Weigh In

CAH has been the subject of several recent research reports. Evercore increased their price target on Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Robert W. Baird set a $252.00 price objective on shares of Cardinal Health in a research report on Friday, February 6th. Wells Fargo & Company raised their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Argus lifted their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Barclays boosted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Company 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.