Thrivent Financial for Lutherans Buys 2,451 Shares of Cardinal Health, Inc. (NYSE:CAH)

Thrivent Financial for Lutherans raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 23.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,727 shares of the company’s stock after acquiring an additional 2,451 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cardinal Health were worth $1,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. Eastern Bank purchased a new position in Cardinal Health in the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC increased 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 worth $28,000 after acquiring an additional 104 shares during the last quarter. Cultivar Capital Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at about $27,000. Hara Capital LLC purchased a new stake in Cardinal Health during the third quarter valued at about $31,000. Finally, LRI Investments LLC bought a new position in Cardinal Health during the first quarter worth about $32,000. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CAH shares. Argus raised their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Evercore ISI lifted their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Robert W. Baird lifted their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Down 0.3 %

CAH opened at $122.24 on Friday. The business’s fifty day simple moving average is $114.96 and its 200 day simple moving average is $106.69. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The stock has a market cap of $29.58 billion, a PE ratio of 23.78, a P/E/G ratio of 1.53 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the company posted $1.73 EPS. Cardinal Health’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is presently 39.30%.

About Cardinal Health

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.