D.A. Davidson & CO. Buys 289 Shares of Cardinal Health, Inc. (NYSE:CAH)

Posted by on Apr 29th, 2023

D.A. Davidson & CO. boosted its stake in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,854 shares of the company’s stock after acquiring an additional 289 shares during the period. D.A. Davidson & CO.’s holdings in Cardinal Health were worth $911,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Mendota Financial Group LLC bought a new stake in Cardinal Health in the fourth quarter worth about $127,000. Guardian Wealth Advisors LLC raised its position in shares of Cardinal Health by 455.1% in the fourth quarter. Guardian Wealth Advisors LLC now owns 7,222 shares of the company’s stock valued at $555,000 after purchasing an additional 5,921 shares during the period. Capital Investment Advisory Services LLC raised its position in shares of Cardinal Health by 2.4% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,020 shares of the company’s stock valued at $617,000 after purchasing an additional 187 shares during the period. Toews Corp ADV bought a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $738,000. Finally, BOK Financial Private Wealth Inc. raised its position in shares of Cardinal Health by 53.7% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 638 shares of the company’s stock valued at $49,000 after purchasing an additional 223 shares during the period. Institutional investors own 88.93% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $82.10 on Friday. The company’s fifty day moving average price is $76.01 and its 200-day moving average price is $76.66. The firm has a market capitalization of $21.15 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.27 and a beta of 0.74. Cardinal Health, Inc. has a one year low of $49.70 and a one year high of $82.44.

Cardinal Health (NYSE:CAH – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $51.47 billion for the quarter, compared to analyst estimates of $50.03 billion. Cardinal Health had a negative net margin of 0.66% and a negative return on equity of 101.28%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, equities research analysts expect that Cardinal Health, Inc. will post 5.45 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, April 15th. Stockholders of record on Monday, April 3rd were issued a $0.4957 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Friday, March 31st. Cardinal Health’s payout ratio is 36.33%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAH shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $77.00 to $88.00 in a research report on Wednesday. UBS Group boosted their price target on shares of Cardinal Health from $78.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Morgan Stanley boosted their price target on shares of Cardinal Health from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Robert W. Baird raised shares of Cardinal Health from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $87.00 to $94.00 in a research note on Friday, February 3rd. Finally, Citigroup started coverage on shares of Cardinal Health in a research note on Friday, March 31st. They set a “neutral” rating and a $77.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $80.92.

About Cardinal Health

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Cardinal Health, Inc is a healthcare services and products company, which engages in the provision of customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. It also provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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