OneDigital Investment Advisors LLC Raises Holdings in Cardinal Health, Inc. (NYSE:CAH)

OneDigital Investment Advisors LLC grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 9.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,732 shares of the company’s stock after buying an additional 307 shares during the period. OneDigital Investment Advisors LLC’s holdings in Cardinal Health were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Eastern Bank acquired a new position in Cardinal Health in the third quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health during the second quarter worth $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at $29,000. Hara Capital LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter valued at $31,000. Finally, LRI Investments LLC acquired a new position in Cardinal Health during the 1st quarter worth about $32,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of CAH opened at $123.30 on Friday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The stock’s fifty day moving average is $113.72 and its 200-day moving average is $105.70. The firm has a market capitalization of $29.84 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. Analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CAH. Mizuho boosted their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Evercore ISI increased their target price on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. UBS Group increased their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.