Cardinal Health, Inc. $CAH Shares Sold by Islay Capital Management LLC

by · The Markets Daily

Islay Capital Management LLC lowered its holdings in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 42.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,732 shares of the company’s stock after selling 2,762 shares during the period. Islay Capital Management LLC’s holdings in Cardinal Health were worth $586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CAH. Crossmark Global Holdings Inc. boosted its stake in shares of Cardinal Health by 6.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 59,956 shares of the company’s stock valued at $9,411,000 after buying an additional 3,434 shares during the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of Cardinal Health by 13.7% in the third quarter. Orion Porfolio Solutions LLC now owns 67,466 shares of the company’s stock worth $10,589,000 after buying an additional 8,109 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Cardinal Health by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,246,527 shares of the company’s stock valued at $195,629,000 after acquiring an additional 5,296 shares in the last quarter. Montag A & Associates Inc. bought a new position in Cardinal Health during the 3rd quarter valued at $99,000. Finally, Mcdonald Partners LLC bought a new position in Cardinal Health during the 3rd quarter valued at $426,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. Zacks Research raised shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Evercore lifted their price target on Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. UBS Group set a $260.00 price objective on Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Finally, TD Cowen lifted their target price on Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. One equities research 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’s stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $245.67.

Check Out Our Latest Analysis on Cardinal Health

Cardinal Health Stock Down 3.1%

Shares of NYSE CAH opened at $216.16 on Friday. The firm’s 50-day moving average price is $215.45 and its two-hundred day moving average price is $189.03. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $233.60. The stock has a market capitalization of $50.87 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.44 and a beta of 0.65.

Cardinal Health (NYSE:CAH – Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 earnings per share. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced 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 is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 29.35%.

About Cardinal Health

(Free Report)

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.

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