By otakuyassine3@gmail.com 
B. Riley Wealth Advisors Inc. decreased its stake in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 20.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,963 shares of the company’s stock after selling 2,347 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Cardinal Health were worth $992,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CAH. Eastern Bank acquired a new stake in shares of Cardinal Health in the third quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in Cardinal Health during the second quarter worth $27,000. Frazier Financial Advisors LLC boosted its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the second quarter valued at $29,000. Finally, Hara Capital LLC bought a new position in Cardinal Health in the 3rd quarter worth about $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.
Cardinal Health Stock Performance
Shares of CAH stock opened at $115.81 on Wednesday. The stock has a market cap of $28.03 billion, a PE ratio of 22.53, a PEG ratio of 1.47 and a beta of 0.61. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The firm’s 50 day moving average price is $117.28 and its two-hundred day moving average price is $108.78.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the business earned $1.73 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.
Cardinal Health Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on CAH shares. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $101.00 to $127.00 in a research report on Friday, December 13th. UBS Group increased their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.
Check Out Our Latest Research Report on Cardinal Health
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.
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