Brown Financial Advisors Cuts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Brown Financial Advisors cut its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 34.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,565 shares of the company’s stock after selling 2,373 shares during the quarter. Brown Financial Advisors’ holdings in Cardinal Health were worth $505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. Eastern Bank purchased a new position in Cardinal Health during the third quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Cardinal Health during the second quarter worth about $27,000. Frazier Financial Advisors LLC boosted its holdings 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 purchasing an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health during the second quarter worth about $29,000. Finally, Hara Capital LLC purchased a new position in Cardinal Health during the third quarter worth about $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

NYSE:CAH opened at $120.41 on Wednesday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The business’s fifty day moving average is $116.71 and its 200 day moving average is $108.07. The firm has a market cap of $29.14 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 1.53 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. Equities analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho began coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Barclays lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Argus lifted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.58.

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.