Sax Wealth Advisors LLC Invests $958,000 in Cardinal Health, Inc. $CAH

Sax Wealth Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, Holdings Channel.com reports. The firm acquired 4,664 shares of the company’s stock, valued at approximately $958,000.

Other hedge funds also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its holdings in Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after acquiring an additional 280 shares during the period. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the period. AlphaCore Capital LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $41,000. Global Retirement Partners LLC purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $556,000. Finally, CreativeOne Wealth LLC increased its holdings in shares of Cardinal Health by 2.5% in the second quarter. CreativeOne Wealth LLC now owns 6,811 shares of the company’s stock worth $1,144,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Evercore increased their price objective on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Robert W. Baird set a $252.00 target price on Cardinal Health in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Wells Fargo & Company lifted their price target on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Finally, UBS Group set a $260.00 price objective on Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Performance

CAH stock opened at $207.57 on Friday. The company has a market capitalization of $48.84 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.36 and a beta of 0.65. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The company’s 50 day moving average price is $217.52 and its two-hundred day moving average price is $195.73.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.