Arkadios Wealth Advisors purchased a new stake in Cardinal Health, Inc. (NYSE:CAH – Free Report) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,050 shares of the company’s stock, valued at approximately $242,000.
Several other large investors have also recently bought and sold shares of CAH. Eastern Bank acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Hara Capital LLC bought a new position in Cardinal Health during the third quarter worth about $31,000. AM Squared Ltd acquired a new position in Cardinal Health in the third quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of Cardinal Health in the third quarter worth about $47,000. Institutional investors and hedge funds own 87.17% of the company’s stock.
Wall Street Analyst Weigh In
CAH has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Citigroup lifted their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.29.
Cardinal Health Stock Up 0.5 %
Shares of CAH opened at $129.38 on Friday. The stock has a market cap of $31.31 billion, a PE ratio of 25.17, a PEG ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $129.68. The business has a 50-day simple moving average of $121.15 and a two-hundred day simple moving average of $112.70.
Cardinal Health (NYSE:CAH – Get Free Report) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current year.
Cardinal Health Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.56%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.
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.
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