Jamison Private Wealth Management Inc. Raises Position in Cardinal Health, Inc. (NYSE:CAH)

Jamison Private Wealth Management Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,461 shares of the company’s stock after buying an additional 648 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Cardinal Health were worth $2,893,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CAH. First Citizens Bank & Trust Co. grew its stake in shares of Cardinal Health by 20.1% in the 4th quarter. First Citizens Bank & Trust Co. now owns 3,031 shares of the company’s stock worth $358,000 after acquiring an additional 508 shares in the last quarter. Patton Albertson Miller Group LLC bought a new stake in Cardinal Health in the 4th quarter worth about $258,000. Flagship Harbor Advisors LLC increased its stake in Cardinal Health by 7.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 4,521 shares of the company’s stock valued at $535,000 after buying an additional 295 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Cardinal Health by 16.7% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 43,819 shares of the company’s stock worth $5,182,000 after buying an additional 6,260 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of Cardinal Health in the 4th quarter worth approximately $267,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of research analyst reports. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.64.

Cardinal Health Stock Performance

Shares of CAH stock opened at $128.89 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $129.68. The business’s fifty day moving average is $121.36 and its 200 day moving average is $113.04. The company has a market capitalization of $31.19 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the business earned $1.73 earnings per share. Cardinal Health’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 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.