Copperwynd Financial LLC Lowers Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Copperwynd Financial LLC decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 2,091 shares of the company’s stock after selling 110 shares during the period. Copperwynd Financial LLC’s holdings in Cardinal Health were worth $247,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC raised its position in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Promus Capital LLC purchased a new stake in Cardinal Health during the fourth quarter valued at about $30,000. AM Squared Ltd purchased a new position in shares of Cardinal Health in the third quarter worth about $33,000. Kentucky Trust Co purchased a new position in shares of Cardinal Health in the fourth quarter worth about $41,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $128.20 on Friday. The stock’s 50 day simple moving average is $126.33 and its two-hundred day simple moving average is $119.31. The stock has a market cap of $30.97 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.58%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Morgan Stanley lifted their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

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.