Prospera Financial Services Inc Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Prospera Financial Services Inc purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,933 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds have also modified their holdings of the company. Eastern Bank bought a new position in Cardinal Health during the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at $27,000. Hara Capital LLC bought a new stake in Cardinal Health in the third quarter worth $31,000. Finally, LRI Investments LLC acquired a new position in Cardinal Health during the first quarter worth $32,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CAH. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. UBS Group upped their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Robert W. Baird increased their price target on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Finally, Mizuho lifted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Performance

NYSE:CAH opened at $121.77 on Tuesday. The firm’s 50-day moving average is $114.07 and its 200-day moving average is $106.13. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The company has a market cap of $29.47 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.52 and a beta of 0.60.

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

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is currently 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.