Ironwood Investment Counsel LLC Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

Ironwood Investment Counsel LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,124 shares of the company’s stock after selling 941 shares during the period. Ironwood Investment Counsel LLC’s holdings in Cardinal Health were worth $4,272,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Frazier Financial Advisors LLC lifted its stake in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Promus Capital LLC acquired a new position in Cardinal Health in the 4th quarter valued at about $30,000. AM Squared Ltd acquired a new stake in shares of Cardinal Health during the third quarter worth about $33,000. Kentucky Trust Co purchased a new position in shares of Cardinal Health in the fourth quarter valued at approximately $41,000. Finally, HHM Wealth Advisors LLC lifted its holdings in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAH. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Trading Down 0.5 %

CAH stock opened at $126.24 on Friday. The business has a 50 day simple moving average of $125.99 and a 200-day simple moving average of $119.14. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The company has a market capitalization of $30.49 billion, a P/E ratio of 23.55, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

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.