Wedmont Private Capital Has $465,000 Stake in Cardinal Health, Inc. (NYSE:CAH)

Wedmont Private Capital increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,828 shares of the company’s stock after buying an additional 131 shares during the period. Wedmont Private Capital’s holdings in Cardinal Health were worth $465,000 at the end of the most recent quarter.

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

Cardinal Health Stock Up 0.4 %

CAH stock opened at $124.51 on Thursday. The company has a market cap of $30.13 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.23. The business has a 50 day moving average price of $120.28 and a two-hundred day moving average price of $111.41.

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

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $101.00 to $127.00 in a report on Friday, December 13th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $133.29.

About Cardinal Health

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.