National Wealth Management Group LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

National Wealth Management Group LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,166 shares of the company’s stock, valued at approximately $903,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Cardinal Health during the 2nd quarter valued at about $90,440,000. Swedbank AB purchased a new position in Cardinal Health during the first quarter valued at $48,673,000. Pacer Advisors Inc. raised its position in shares of Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock valued at $403,022,000 after buying an additional 370,181 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Cardinal Health during the third quarter worth about $30,820,000. Finally, American Century Companies Inc. increased its position in Cardinal Health by 17.7% during the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after purchasing an additional 242,608 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on CAH. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Robert W. Baird increased their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Evercore ISI upped their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.00.

Cardinal Health Stock Up 0.1 %

CAH opened at $122.59 on Thursday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14. The stock has a market cap of $29.67 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.52 and a beta of 0.60. The business has a 50 day moving average of $114.29 and a 200-day moving average of $106.29.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.73 EPS. As a group, analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. Cardinal Health’s dividend payout ratio is currently 39.30%.

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.