Sivik Global Healthcare LLC Sells 20,000 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sivik Global Healthcare LLC lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 33.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 40,000 shares of the company’s stock after selling 20,000 shares during the quarter. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $4,032,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Aaron Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 1.2% in the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after acquiring an additional 97 shares in the last quarter. Schechter Investment Advisors LLC grew its holdings in shares of Cardinal Health by 4.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after buying an additional 98 shares in the last quarter. Cypress Capital Group raised its position in Cardinal Health by 0.7% in the 3rd quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock valued at $1,487,000 after buying an additional 111 shares during the last quarter. Monument Capital Management boosted its position in Cardinal Health by 3.0% during the 3rd quarter. Monument Capital Management now owns 4,639 shares of the company’s stock worth $403,000 after acquiring an additional 136 shares during the last quarter. Finally, Guardian Wealth Advisors LLC grew its stake in shares of Cardinal Health by 1.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 8,318 shares of the company’s stock worth $722,000 after acquiring an additional 140 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 24th. Finally, SVB Leerink began coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.93.

Cardinal Health Price Performance

Shares of NYSE CAH traded up $0.12 during mid-day trading on Tuesday, hitting $103.03. 2,456,082 shares of the stock traded hands, compared to its average volume of 2,250,772. The company has a market cap of $25.06 billion, a PE ratio of 40.57, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04. The firm has a 50 day simple moving average of $109.48 and a two-hundred day simple moving average of $104.93.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.32 earnings per share. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

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.