EP Wealth Advisors LLC Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

EP Wealth Advisors LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 70.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,065 shares of the company’s stock after purchasing an additional 2,091 shares during the quarter. EP Wealth Advisors LLC’s holdings in Cardinal Health were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at $244,000. Neo Ivy Capital Management acquired a new stake in shares of Cardinal Health during the fourth quarter worth $240,000. Raleigh Capital Management Inc. raised its holdings in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Cardinal Health by 187.1% during the fourth quarter. V Square Quantitative Management LLC now owns 7,919 shares of the company’s stock worth $798,000 after purchasing an additional 5,161 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Cardinal Health by 834.0% during the fourth quarter. GSA Capital Partners LLP now owns 26,469 shares of the company’s stock worth $2,668,000 after purchasing an additional 23,635 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI increased their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. SVB Leerink initiated coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Argus dropped their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Robert W. Baird dropped their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Trading Up 3.1 %

NYSE:CAH opened at $104.09 on Wednesday. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The company has a 50-day moving average of $100.64 and a 200-day moving average of $104.76. The firm has a market cap of $25.35 billion, a price-to-earnings ratio of 46.26, a price-to-earnings-growth ratio of 1.13 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same quarter last year, the firm posted $1.74 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.94%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

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.