Wealthcare Advisory Partners LLC Cuts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Wealthcare Advisory Partners LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,534 shares of the company’s stock after selling 89 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Cardinal Health were worth $300,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. State Street Corp increased its stake in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the last quarter. Geode Capital Management LLC increased its position in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after buying an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after buying an additional 33,388 shares in the last quarter. Finally, Brandes Investment Partners LP grew its stake in Cardinal Health by 10.1% during the second quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock worth $129,439,000 after buying an additional 121,107 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on CAH shares. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Barclays increased their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Mizuho began 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 for the company. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.29.

Cardinal Health Trading Up 1.2 %

Shares of NYSE CAH opened at $127.81 on Wednesday. The business has a 50 day simple moving average of $120.92 and a 200-day simple moving average of $112.47. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $127.89. The company has a market capitalization of $30.93 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.54 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping 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 company had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) 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.