Lumature Wealth Partners LLC lessened its stake in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,226 shares of the company’s stock after selling 235 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Cardinal Health were worth $325,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Delta Asset Management LLC TN acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. increased its stake in shares of Cardinal Health by 888.6% during the fourth quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock valued at $27,000 after acquiring an additional 311 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $36,000. Boyd Watterson Asset Management LLC OH acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $40,000. Finally, JDM Financial Group LLC acquired a new position in Cardinal Health in the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 88.93% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on CAH. Bank of America lifted their price target on shares of Cardinal Health from $85.00 to $91.00 in a research report on Friday. Barclays lifted their price target on shares of Cardinal Health from $80.00 to $85.00 in a research report on Friday. Evercore ISI lifted their price target on shares of Cardinal Health from $90.00 to $95.00 in a research report on Friday. Credit Suisse Group lifted their price target on shares of Cardinal Health from $90.00 to $100.00 in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $90.00 to $93.00 in a research report on Friday. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.79.
Cardinal Health Stock Up 0.5 %
Cardinal Health (NYSE:CAH – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The company had revenue of $50.50 billion during the quarter, compared to analyst estimates of $49.63 billion. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $1.45 EPS. Equities research analysts expect that Cardinal Health, Inc. will post 5.71 earnings per share for the current fiscal year.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be issued a dividend of $0.5006 per share. The ex-dividend date is Friday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is currently 113.79%.
About Cardinal Health
Cardinal Health, Inc operates as an integrated 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.
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