Sompo Asset Management Co. Ltd. Sells 100 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sompo Asset Management Co. Ltd. trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,740 shares of the company’s stock after selling 100 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Cardinal Health were worth $303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC raised its holdings in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Cultivar Capital Inc. bought a new position in Cardinal Health in the 2nd quarter valued at about $27,000. Hara Capital LLC bought a new position in Cardinal Health in the 3rd quarter valued at about $31,000. Finally, LRI Investments LLC bought a new position in Cardinal Health in the 1st quarter valued at about $32,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 1.3 %

NYSE CAH opened at $121.84 on Monday. The firm has a market capitalization of $29.49 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.54 and a beta of 0.60. The firm’s 50 day simple moving average is $113.90 and its 200 day simple moving average is $105.96. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.66%. Cardinal Health’s dividend payout ratio is 39.30%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAH. UBS Group increased their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Argus increased their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Evercore ISI raised their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Company 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.