Cardinal Health, Inc. (NYSE:CAH) Stake Cut by HB Wealth Management LLC

HB Wealth Management LLC reduced its holdings in Cardinal Health, Inc. (NYSE:CAH) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,005 shares of the company’s stock after selling 242 shares during the period. HB Wealth Management LLC’s holdings in Cardinal Health were worth $505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CAH. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health in the 3rd quarter worth about $26,000. Covestor Ltd raised its stake in shares of Cardinal Health by 59.8% during the 2nd quarter. Covestor Ltd now owns 294 shares of the company’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Stonebridge Capital Advisors LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth about $30,000. Finally, Retirement Group LLC raised its stake in shares of Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after purchasing an additional 431 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the subject of a number of recent research reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. UBS Group raised their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Barclays started coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Stock Up 0.9 %

CAH opened at $112.58 on Thursday. The firm has a market capitalization of $27.38 billion, a P/E ratio of 44.32, a price-to-earnings-growth ratio of 1.07 and a beta of 0.68. The stock’s 50 day moving average price is $108.39 and its two-hundred day moving average price is $101.85. Cardinal Health, Inc. has a 12-month low of $71.29 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.29 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s payout ratio is presently 78.74%.

Cardinal Health Company 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.