Summit Trail Advisors LLC Has $244,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Summit Trail Advisors LLC decreased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,411 shares of the company’s stock after selling 112 shares during the period. Summit Trail Advisors LLC’s holdings in Cardinal Health were worth $244,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Aaron Wealth Advisors LLC grew its position in shares of Cardinal Health by 1.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock valued at $844,000 after buying an additional 97 shares during the last quarter. Schechter Investment Advisors LLC boosted its holdings in Cardinal Health by 4.1% in the fourth quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock valued at $250,000 after acquiring an additional 98 shares during the last quarter. Cypress Capital Group increased its position in Cardinal Health by 0.7% during the 3rd quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock valued at $1,487,000 after purchasing an additional 111 shares during the period. Hexagon Capital Partners LLC increased its position in Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Finally, Guardian Wealth Advisors LLC increased its position in Cardinal Health by 1.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 8,318 shares of the company’s stock valued at $722,000 after purchasing an additional 140 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAH has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. UBS Group raised their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. SVB Leerink initiated coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. Robert W. Baird reduced their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Cardinal Health Trading Down 2.3 %

Shares of NYSE:CAH opened at $97.45 on Thursday. The stock’s fifty day simple moving average is $108.38 and its two-hundred day simple moving average is $105.21. Cardinal Health, Inc. has a 1-year low of $80.90 and a 1-year high of $116.04. The stock has a market cap of $23.74 billion, a PE ratio of 43.31, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same period last year, the business earned $1.74 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.34 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s payout ratio is presently 88.89%.

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.