By otakuyassine3@gmail.com 
Geneos Wealth Management Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH – Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,884 shares of the company’s stock after selling 211 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Cardinal Health were worth $2,115,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Cardinal Health by 16.7% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 43,819 shares of the company’s stock worth $5,182,000 after purchasing an additional 6,260 shares during the last quarter. CX Institutional bought a new position in shares of Cardinal Health during the fourth quarter valued at about $267,000. MFA Wealth Services purchased a new position in shares of Cardinal Health in the fourth quarter worth about $292,000. Verde Capital Management bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $220,000. Finally, Raleigh Capital Management Inc. boosted its holdings in Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after acquiring an additional 106 shares during the period. 87.17% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CAH. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research note on Tuesday, January 7th. Citigroup increased their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Finally, Morgan Stanley increased their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $134.64.
View Our Latest Stock Analysis on Cardinal Health
Cardinal Health Trading Down 0.3 %
Cardinal Health stock opened at $128.89 on Monday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $129.68. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The business’s fifty day simple moving average is $121.36 and its two-hundred day simple moving average is $113.16.
Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings data 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 net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the firm posted $1.73 EPS. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities research analysts predict 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. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is presently 39.30%.
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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