Prospera Private Wealth LLC Acquires Shares of 696 Cardinal Health, Inc. (NYSE:CAH)

Prospera Private Wealth LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, Holdings Channel reports. The fund bought 696 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds also recently made changes to their positions in the company. Eastern Bank purchased a new position in Cardinal Health during the 3rd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health in the 2nd quarter valued at approximately $27,000. Frazier Financial Advisors LLC boosted its holdings 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 worth $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health during the 2nd quarter valued at approximately $29,000. Finally, Hara Capital LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 2.5 %

Shares of Cardinal Health stock opened at $123.30 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The stock’s fifty day moving average price is $113.72 and its 200-day moving average price is $105.70. The firm has a market cap of $29.84 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.64%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CAH shares. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research report on Thursday, August 15th. Evercore ISI increased their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Mizuho boosted their target price on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped their price objective on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

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.