Cardinal Health, Inc. (NYSE:CAH) Holdings Decreased by Empowered Funds LLC

Empowered Funds LLC reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 72.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,924 shares of the company’s stock after selling 78,906 shares during the quarter. Empowered Funds LLC’s holdings in Cardinal Health were worth $3,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Eastern Bank acquired a new position in Cardinal Health during the third quarter worth about $25,000. Frazier Financial Advisors LLC grew its holdings in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC acquired a new position in Cardinal Health during the third quarter worth about $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the third quarter worth about $33,000. Finally, Carolina Wealth Advisors LLC acquired a new position in Cardinal Health during the third quarter worth about $47,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $127.09 on Thursday. The firm has a market cap of $30.70 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The stock has a 50-day simple moving average of $122.69 and a 200-day simple moving average of $115.91.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CAH shares. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company lifted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Citigroup lifted their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $136.87.

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.