Cardinal Health, Inc. (NYSE:CAH) Stake Raised by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,977 shares of the company’s stock after acquiring an additional 2,141 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Cardinal Health were worth $9,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CAH. Geode Capital Management LLC lifted its stake in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cardinal Health by 2.3% in 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. Alpha Cubed Investments LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter valued at $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Cardinal Health during the 3rd quarter worth $1,691,000. Finally, National Wealth Management Group LLC acquired a new position in shares of Cardinal Health in the 3rd quarter worth $903,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.9 %

Cardinal Health stock opened at $127.03 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.08. The company’s fifty day simple moving average is $120.63 and its 200-day simple moving average is $111.61. The stock has a market cap of $30.74 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.48 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly 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. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $1.73 EPS. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CAH shares. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group boosted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.29.

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.