National Wealth Management Group LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

National Wealth Management Group LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 8,166 shares of the company’s stock, valued at approximately $903,000.

Several other institutional investors also recently modified their holdings of the business. Eastern Bank bought a new position in Cardinal Health in the third quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in Cardinal Health in the second quarter worth about $27,000. Frazier Financial Advisors LLC lifted its holdings in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cardinal Health during the second quarter valued at approximately $29,000. Finally, Hara Capital LLC purchased a new position in shares of Cardinal Health during the third quarter valued at approximately $31,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Up 0.1 %

Shares of NYSE:CAH opened at $122.59 on Thursday. The company has a market capitalization of $29.67 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The firm’s 50-day moving average is $114.29 and its 200 day moving average is $106.29.

Cardinal Health (NYSE:CAH) last issued 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. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health’s payout ratio is 39.30%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAH. Wells Fargo & Company boosted 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. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Morgan Stanley lifted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Argus lifted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird boosted their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

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.