Beacon Investment Advisory Services Inc. Sells 321 Shares of Cardinal Health, Inc. (NYSE:CAH)

Beacon Investment Advisory Services Inc. reduced its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.7% in the fourth quarter, Holdings Channel reports. The fund owned 3,363 shares of the company’s stock after selling 321 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Cardinal Health were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. State Street Corp raised its stake in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after acquiring an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 worth $162,976,000 after acquiring an additional 33,388 shares in the last quarter. Finally, Brandes Investment Partners LP increased its stake in Cardinal Health by 10.1% during the second quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock worth $129,439,000 after acquiring an additional 121,107 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, UBS Group upped 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. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $133.29.

Cardinal Health Stock Performance

Cardinal Health stock opened at $129.38 on Friday. The company has a market capitalization of $31.31 billion, a PE ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63. The company has a 50 day moving average price of $121.15 and a 200-day moving average price of $112.70. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $129.68.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period in the previous year, the company posted $1.73 EPS. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current 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 issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is 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.