Accurate Wealth Management LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Accurate Wealth Management LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,822 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Dimensional Fund Advisors LP raised its holdings in Cardinal Health by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,237,338 shares of the company’s stock worth $121,664,000 after purchasing an additional 69,934 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of Cardinal Health during the second quarter valued at about $232,000. E Fund Management Co. Ltd. raised its stake in Cardinal Health by 8.4% in the second quarter. E Fund Management Co. Ltd. now owns 2,054 shares of the company’s stock worth $202,000 after buying an additional 159 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Cardinal Health by 7.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 26,078 shares of the company’s stock worth $2,564,000 after buying an additional 1,761 shares during the period. Finally, Amalgamated Bank boosted its position in Cardinal Health by 4.3% during the 2nd quarter. Amalgamated Bank now owns 71,339 shares of the company’s stock valued at $7,014,000 after acquiring an additional 2,959 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CAH. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Citigroup lifted their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Trading Up 1.9 %

CAH opened at $127.03 on Friday. The company’s 50 day moving average is $120.46 and its 200 day moving average is $111.50. The company has a market cap of $30.74 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $127.08.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.59%. Cardinal Health’s payout ratio is currently 39.30%.

Cardinal Health Company 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.