Patton Albertson Miller Group LLC Purchases New Shares in Cardinal Health, Inc. (NYSE:CAH)

Patton Albertson Miller Group LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,178 shares of the company’s stock, valued at approximately $258,000.

Other institutional investors and 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 about $25,000. Frazier Financial Advisors LLC increased its holdings 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 during the last quarter. Hara Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $31,000. AM Squared Ltd acquired a new position in shares of Cardinal Health in the 3rd quarter valued at approximately $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in shares of Cardinal Health during the 3rd quarter valued at approximately $47,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $128.89 on Friday. The firm has a market capitalization of $31.19 billion, a PE ratio of 25.08, a P/E/G ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $129.68. The business’s fifty day moving average price is $121.36 and its two-hundred day moving average price is $113.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. Equities research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.57%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $101.00 to $127.00 in a research note on Friday, December 13th. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a report on Tuesday, January 7th. Finally, TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $134.64.

About Cardinal Health

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.