Brookstone Capital Management Sells 960 Shares of Cardinal Health, Inc. (NYSE:CAH)

Brookstone Capital Management lessened its stake in Cardinal Health, Inc. (NYSE:CAH) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,058 shares of the company’s stock after selling 960 shares during the period. Brookstone Capital Management’s holdings in Cardinal Health were worth $1,126,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CAH. Aaron Wealth Advisors LLC increased its position in Cardinal Health by 1.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock valued at $844,000 after acquiring an additional 97 shares during the last quarter. Schechter Investment Advisors LLC increased its position in shares of Cardinal Health by 4.1% during the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock valued at $250,000 after purchasing an additional 98 shares during the last quarter. J. W. Coons Advisors LLC lifted its stake in shares of Cardinal Health by 0.6% in the 4th quarter. J. W. Coons Advisors LLC now owns 16,680 shares of the company’s stock worth $1,681,000 after purchasing an additional 100 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Finally, Tompkins Financial Corp grew its position in Cardinal Health by 6.4% during the first quarter. Tompkins Financial Corp now owns 1,994 shares of the company’s stock valued at $223,000 after buying an additional 120 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Evercore ISI lifted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. Robert W. Baird decreased their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company cut their price objective 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. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Argus dropped their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $109.67.

Cardinal Health Trading Down 1.3 %

Shares of Cardinal Health stock opened at $98.32 on Friday. Cardinal Health, Inc. has a 12 month low of $85.11 and a 12 month high of $116.04. The stock has a 50 day moving average of $99.88 and a 200 day moving average of $104.51. The firm has a market cap of $23.95 billion, a PE ratio of 43.70, a PEG ratio of 1.13 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last posted its earnings results 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 negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same period in the prior year, the company earned $1.74 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.06%. Cardinal Health’s payout ratio is 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.