Bartlett & CO. Wealth Management LLC Lowers Holdings in Cardinal Health, Inc. (NYSE:CAH)

Bartlett & CO. Wealth Management LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,503 shares of the company’s stock after selling 330 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Cardinal Health were worth $2,307,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank purchased a new stake in shares of Cardinal Health during the third quarter worth $25,000. Frazier Financial Advisors LLC grew its stake in Cardinal Health by 69.8% during 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 in the last quarter. Hara Capital LLC purchased a new stake in Cardinal Health during the 3rd quarter worth about $31,000. AM Squared Ltd acquired a new stake in Cardinal Health in the 3rd quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at about $47,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.5 %

Shares of NYSE CAH opened at $129.38 on Friday. The stock has a market cap of $31.31 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $129.68. The stock has a 50 day moving average of $121.15 and a two-hundred day moving average of $112.70.

Cardinal Health (NYSE:CAH) last released 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 firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the prior year, the firm earned $1.73 EPS. Cardinal Health’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Ratings Changes

A number of research firms recently weighed in on CAH. Barclays upped their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Citigroup lifted their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Finally, UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.29.

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.