76,428 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 76,428 shares of the company’s stock, valued at approximately $93,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CAH. MWA Asset Management boosted its stake in Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after buying an additional 95 shares during the last quarter. Huntington National Bank boosted its stake in Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after buying an additional 100 shares during the last quarter. Frazier Financial Advisors LLC boosted its stake 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 buying an additional 104 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after buying an additional 106 shares during the last quarter. Finally, Patron Partners LLC boosted its stake in Cardinal Health by 6.1% during the fourth quarter. Patron Partners LLC now owns 2,043 shares of the company’s stock worth $242,000 after buying an additional 117 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAH. UBS Group increased their target price on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Tuesday, January 7th. Finally, Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.87.

Cardinal Health Stock Down 0.3 %

Shares of CAH stock opened at $126.96 on Friday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The firm has a market capitalization of $30.67 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The firm has a fifty day moving average of $123.62 and a 200-day moving average of $117.08.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

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

Cardinal Health Company 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.