Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases Shares of 11,971 Cardinal Health, Inc. (NYSE:CAH)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, Holdings Channel.com reports. The fund acquired 11,971 shares of the company’s stock, valued at approximately $1,207,000.

A number of other hedge funds also recently modified their holdings of the stock. Clearstead Trust LLC bought a new position in Cardinal Health during the 4th quarter worth $25,000. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health in the 3rd quarter valued at $26,000. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health during the 4th quarter worth $30,000. Hexagon Capital Partners LLC boosted its stake in Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in Cardinal Health in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent research reports. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 2nd. SVB Leerink started coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Finally, Evercore ISI raised their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $105.79.

Cardinal Health Trading Down 1.3 %

Shares of CAH stock traded down $1.34 during trading hours on Wednesday, reaching $98.38. The stock had a trading volume of 453,049 shares, compared to its average volume of 2,263,261. The stock’s fifty day simple moving average is $108.67 and its 200 day simple moving average is $105.27. The firm has a market capitalization of $23.96 billion, a PE ratio of 44.32, a PEG ratio of 1.01 and a beta of 0.71. Cardinal Health, Inc. has a 12 month low of $80.90 and a 12 month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 earnings per share. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.34 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.06%. Cardinal Health’s dividend payout ratio is 88.89%.

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.