MFA Wealth Services Buys Shares of 2,470 Cardinal Health, Inc. (NYSE:CAH)

MFA Wealth Services purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,470 shares of the company’s stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 46.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,443 shares of the company’s stock valued at $246,000 after purchasing an additional 778 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Cardinal Health by 88.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,437 shares of the company’s stock worth $928,000 after buying an additional 4,435 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Cardinal Health by 3.2% in the second quarter. Evergreen Capital Management LLC now owns 3,836 shares of the company’s stock valued at $377,000 after buying an additional 120 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Cardinal Health by 37.9% during the second quarter. Bank of Montreal Can now owns 399,046 shares of the company’s stock valued at $42,032,000 after acquiring an additional 109,749 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Cardinal Health during the second quarter worth about $1,979,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CAH. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Finally, Citigroup boosted their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Stock Performance

NYSE:CAH opened at $129.38 on Friday. The company has a market capitalization of $31.31 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63. The stock’s 50 day moving average price is $121.15 and its 200 day moving average price is $112.70. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $129.68.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.73 EPS. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal 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 issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio 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.