Barrow Hanley Mewhinney & Strauss LLC Sells 795,052 Shares of Cardinal Health, Inc. (NYSE:CAH)

Barrow Hanley Mewhinney & Strauss LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,051,896 shares of the company’s stock after selling 795,052 shares during the quarter. Cardinal Health comprises about 2.0% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 16th largest position. Barrow Hanley Mewhinney & Strauss LLC owned about 6.37% of Cardinal Health worth $1,341,873,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brandes Investment Partners LP acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $2,464,000. Victory Capital Management Inc. lifted its position in shares of Cardinal Health by 202.1% during the 2nd quarter. Victory Capital Management Inc. now owns 61,304 shares of the company’s stock valued at $4,776,000 after acquiring an additional 41,013 shares during the period. Dupont Capital Management Corp acquired a new position in shares of Cardinal Health during the 2nd quarter valued at $164,000. Swiss National Bank lifted its position in shares of Cardinal Health by 1.6% during the 2nd quarter. Swiss National Bank now owns 1,152,648 shares of the company’s stock valued at $89,814,000 after acquiring an additional 18,600 shares during the period. Finally, FDx Advisors Inc. lifted its position in shares of Cardinal Health by 7.9% during the 3rd quarter. FDx Advisors Inc. now owns 43,508 shares of the company’s stock valued at $2,912,000 after acquiring an additional 3,172 shares during the period. 88.35% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have weighed in on CAH. Deutsche Bank started coverage on shares of Cardinal Health in a report on Monday, December 4th. They set a “hold” rating and a $64.00 price objective on the stock. Morgan Stanley lowered shares of Cardinal Health from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 20th. Argus downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, Jefferies Group lowered their price target on shares of Cardinal Health from $77.00 to $67.00 and set a “hold” rating on the stock in a report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the company. Cardinal Health has a consensus rating of “Hold” and an average price target of $73.91.

Cardinal Health, Inc. (CAH) traded down $0.40 during midday trading on Friday, reaching $61.27. The company had a trading volume of 1,508,840 shares, compared to its average volume of 3,162,315. The company has a market cap of $19,549.47, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.85. Cardinal Health, Inc. has a 52 week low of $54.66 and a 52 week high of $84.88. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.06 and a quick ratio of 0.52.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. The business had revenue of $32.64 billion during the quarter, compared to the consensus estimate of $33.48 billion. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. equities research analysts anticipate that Cardinal Health, Inc. will post 4.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.4624 per share. The ex-dividend date is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.02%. Cardinal Health’s dividend payout ratio (DPR) is presently 53.78%.

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Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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