Gibraltar Capital Management Inc. Sells 3,141 Shares of Cardinal Health, Inc. (NYSE:CAH)

Gibraltar Capital Management Inc. trimmed its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 29.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,632 shares of the company’s stock after selling 3,141 shares during the period. Gibraltar Capital Management Inc.’s holdings in Cardinal Health were worth $769,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health during the third quarter valued at $26,000. BKM Wealth Management LLC bought a new stake in Cardinal Health during the fourth quarter worth about $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Cardinal Health during the fourth quarter worth approximately $36,000. Headlands Technologies LLC bought a new position in shares of Cardinal Health in the third quarter valued at approximately $47,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Cardinal Health during the 4th quarter worth approximately $59,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CAH. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 24th. Barclays began coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. Wells Fargo & Company decreased their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, SVB Leerink initiated coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.93.

Cardinal Health Stock Performance

NYSE:CAH traded up $0.12 during mid-day trading on Tuesday, reaching $103.03. The stock had a trading volume of 2,456,082 shares, compared to its average volume of 2,250,772. The stock has a market capitalization of $25.06 billion, a P/E ratio of 40.57, a P/E/G ratio of 1.04 and a beta of 0.68. The firm has a 50 day moving average price of $109.48 and a two-hundred day moving average price of $104.93. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. Research analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

Cardinal Health 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.