Country Club Bank Cuts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Country Club Bank lowered its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,790 shares of the company’s stock after selling 385 shares during the quarter. Country Club Bank’s holdings in Cardinal Health were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CAH. Eastern Bank purchased a new position in Cardinal Health in the 3rd quarter worth about $25,000. Frazier Financial Advisors LLC raised its holdings in shares of 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 during the last quarter. Hara Capital LLC bought a new position in Cardinal Health during the third quarter valued at approximately $31,000. AM Squared Ltd purchased a new stake in Cardinal Health in the third quarter worth approximately $33,000. Finally, Carolina Wealth Advisors LLC bought a new stake in Cardinal Health in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $127.41 on Thursday. The stock has a fifty day simple moving average of $122.26 and a two-hundred day simple moving average of $114.83. The firm has a market capitalization of $30.78 billion, a PE ratio of 23.77, a PEG ratio of 1.46 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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, sell-side analysts forecast that Cardinal Health, Inc. will post 7.92 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. Cardinal Health’s dividend payout ratio is 37.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $140.00 to $150.00 in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup boosted their price target on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Mizuho began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.87.

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.