Beacon Investment Advisory Services Inc. Sells 321 Shares of Cardinal Health, Inc. (NYSE:CAH)

Beacon Investment Advisory Services Inc. decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,363 shares of the company’s stock after selling 321 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Cardinal Health were worth $398,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Hara Capital LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at $31,000. AM Squared Ltd bought a new position in shares of Cardinal Health during the 3rd quarter valued at $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of recent research reports. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. Mizuho assumed coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. UBS Group lifted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup upped their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Stock Up 0.5 %

Shares of Cardinal Health stock opened at $129.38 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $129.68. The stock’s 50-day simple moving average is $121.15 and its 200-day simple moving average is $112.70. The company has a market capitalization of $31.31 billion, a price-to-earnings ratio of 25.17, a PEG ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion for 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 was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 EPS. On average, equities analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health’s dividend payout ratio is currently 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.