RFG Advisory LLC Cuts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

RFG Advisory LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 35.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,116 shares of the company’s stock after selling 1,182 shares during the period. RFG Advisory LLC’s holdings in Cardinal Health were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clearstead Trust LLC purchased a new position in shares of Cardinal Health in the 4th quarter valued at about $25,000. Raleigh Capital Management Inc. raised its holdings in Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter worth approximately $30,000. Hexagon Capital Partners LLC grew its holdings in Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $36,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Argus dropped their price objective on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Wells Fargo & Company decreased their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, April 29th. Finally, Robert W. Baird dropped their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $103.13 on Wednesday. The firm’s fifty day simple moving average is $100.31 and its 200-day simple moving average is $104.65. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 45.84, a PEG ratio of 1.19 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 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $56.05 billion. During the same period in the previous year, the business posted $1.74 earnings per share. Cardinal Health’s quarterly revenue was up 8.7% on a year-over-year basis. Analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.96%. 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 89.78%.

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.