Wellington Management Group LLP Cuts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Wellington Management Group LLP cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,148 shares of the company’s stock after selling 1,522 shares during the quarter. Wellington Management Group LLP’s holdings in Cardinal Health were worth $1,895,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CAH. Paragon Capital Management Inc. boosted its position in shares of Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares in the last quarter. Midland Wealth Advisors LLC boosted its holdings in Cardinal Health by 4.2% during the second quarter. Midland Wealth Advisors LLC now owns 2,488 shares of the company’s stock worth $245,000 after buying an additional 100 shares in the last quarter. Aptus Capital Advisors LLC grew its position 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 during the period. Oregon Public Employees Retirement Fund increased its holdings in Cardinal Health by 0.5% in the second 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 in the last quarter. Finally, Huntington National Bank increased its holdings in Cardinal Health by 0.9% in the third 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 in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.1 %

Shares of NYSE:CAH opened at $115.91 on Thursday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.23. The stock’s 50-day moving average price is $117.31 and its two-hundred day moving average price is $108.83. The firm has a market cap of $28.05 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 1.47 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its 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 analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company 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 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Morgan Stanley lifted their price target on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Argus upped 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. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $127.50.

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.