Flagship Harbor Advisors LLC Grows Holdings in Cardinal Health, Inc. (NYSE:CAH)

Flagship Harbor Advisors LLC grew its position in Cardinal Health, Inc. (NYSE:CAH) by 7.0% in the fourth quarter, HoldingsChannel reports. The fund owned 4,521 shares of the company’s stock after acquiring an additional 295 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Cardinal Health were worth $535,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CAH. Eastern Bank acquired a new stake in Cardinal Health in the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC grew 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. Hara Capital LLC purchased a new stake in Cardinal Health in the 3rd quarter worth $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the third quarter worth $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Cardinal Health during the third quarter valued at $47,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research analyst reports. Citigroup upped their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Barclays raised their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Finally, TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $134.64.

Cardinal Health Price Performance

Cardinal Health stock opened at $127.59 on Wednesday. The firm has a 50 day simple moving average of $121.75 and a 200-day simple moving average of $113.66. The stock has a market cap of $30.88 billion, a price-to-earnings ratio of 24.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $131.29.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) 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 company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Equities analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Cardinal Health 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.