HB Wealth Management LLC Has $745,000 Position in Cardinal Health, Inc. (NYSE:CAH)

HB Wealth Management LLC lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,296 shares of the company’s stock after purchasing an additional 698 shares during the period. HB Wealth Management LLC’s holdings in Cardinal Health were worth $745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Paragon Capital Management Inc. grew its holdings in Cardinal Health by 0.7% during the second quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock worth $1,451,000 after purchasing an additional 99 shares during the period. Huntington National Bank boosted its stake in shares of Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares during the period. Blair William & Co. IL increased its holdings in shares of Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after acquiring an additional 103 shares during the last quarter. Frazier Financial Advisors LLC raised its stake in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Cardinal Health by 4.9% during the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock valued at $249,000 after purchasing an additional 106 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $101.00 to $127.00 in a report on Friday, December 13th. Morgan Stanley boosted their price objective on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Finally, Barclays boosted their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Trading Up 1.2 %

Shares of NYSE:CAH opened at $127.81 on Wednesday. The firm has a 50 day moving average of $120.92 and a 200-day moving average of $112.47. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.89. The stock has a market capitalization of $30.93 billion, a PE ratio of 24.87, a PEG ratio of 1.54 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping 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 period in the prior year, the company earned $1.73 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, research analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 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.