Beacon Pointe Advisors LLC Has $869,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Beacon Pointe Advisors LLC lessened its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,347 shares of the company’s stock after selling 141 shares during the period. Beacon Pointe Advisors LLC’s holdings in Cardinal Health were worth $869,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Cyrus J. Lawrence LLC purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $26,000. Promus Capital LLC purchased a new position in Cardinal Health during the 4th quarter worth $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health in the 4th quarter worth $35,000. Kentucky Trust Co purchased a new stake in shares of Cardinal Health in the fourth quarter valued at about $41,000. Finally, HHM Wealth Advisors LLC lifted its position in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after purchasing an additional 144 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CAH. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. TD Cowen upgraded 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 report on Wednesday, January 8th. UBS Group upped their price objective on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday. Robert W. Baird lifted their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America increased their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.71.

Cardinal Health Trading Up 2.8 %

Shares of NYSE CAH opened at $149.59 on Friday. The business has a 50-day moving average of $132.38 and a 200-day moving average of $124.98. The firm has a market capitalization of $36.14 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $150.12.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.5056 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.35%. Cardinal Health’s dividend payout ratio (DPR) is presently 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.