Cardinal Health, Inc. (NYSE:CAH) Stake Boosted by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 346.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,917 shares of the company’s stock after purchasing an additional 1,488 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Cardinal Health were worth $227,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Cardinal Health during the third quarter valued at $25,000. Frazier Financial Advisors LLC boosted its position in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $31,000. AM Squared Ltd acquired a new stake in Cardinal Health during the 3rd quarter worth about $33,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Cardinal Health during the 3rd quarter worth about $55,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Price Performance

CAH stock opened at $124.51 on Thursday. The stock has a market capitalization of $30.13 billion, a P/E ratio of 24.22, a P/E/G ratio of 1.47 and a beta of 0.63. The business has a 50-day moving average of $120.46 and a 200-day moving average of $111.50. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23.

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

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.62%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CAH shares. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 7th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $145.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.29.

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.