Occidental Asset Management LLC Buys 3,102 Shares of Cardinal Health, Inc. (NYSE:CAH)

Occidental Asset Management LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 10.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,873 shares of the company’s stock after buying an additional 3,102 shares during the period. Occidental Asset Management LLC’s holdings in Cardinal Health were worth $4,006,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Paragon Capital Management Inc. boosted its position in Cardinal Health by 0.7% during the 2nd quarter. Paragon Capital Management Inc. now owns 14,758 shares of the company’s stock valued at $1,451,000 after buying an additional 99 shares during the period. Huntington National Bank boosted its holdings in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares during the period. Blair William & Co. IL grew its stake in shares of Cardinal Health by 0.9% in the second quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after purchasing an additional 103 shares during the last quarter. 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 valued at $28,000 after purchasing an additional 104 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Cardinal Health by 4.9% in the 3rd quarter. UMB Bank n.a. now owns 2,249 shares of the company’s stock worth $249,000 after buying an additional 106 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.9 %

Cardinal Health stock opened at $127.03 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $127.08. The company has a market cap of $30.74 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.48 and a beta of 0.63. The business has a 50-day simple moving average of $120.63 and a two-hundred day simple moving average of $111.61.

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

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CAH. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $101.00 to $127.00 in a research report on Friday, December 13th. UBS Group lifted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Barclays raised their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.