Strategic Financial Concepts LLC Purchases New Position in Cardinal Health, Inc. (NYSE:CAH)

Strategic Financial Concepts LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 76,428 shares of the company’s stock, valued at approximately $93,000.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in shares of Cardinal Health by 48.0% during the third quarter. Exchange Traded Concepts LLC now owns 8,875 shares of the company’s stock valued at $981,000 after purchasing an additional 2,880 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Cardinal Health by 46.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 675 shares of the company’s stock worth $75,000 after buying an additional 214 shares during the last quarter. Swedbank AB lifted its stake in Cardinal Health by 0.3% during the 3rd quarter. Swedbank AB now owns 435,371 shares of the company’s stock valued at $48,117,000 after acquiring an additional 1,112 shares during the period. Jamison Private Wealth Management Inc. raised its holdings in shares of Cardinal Health by 4.0% during the third quarter. Jamison Private Wealth Management Inc. now owns 23,813 shares of the company’s stock valued at $2,632,000 after purchasing an additional 915 shares during the last quarter. Finally, Hummer Financial Advisory Services Inc bought a new position in Cardinal Health during the third quarter valued at approximately $211,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on CAH shares. Mizuho started coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Wells Fargo & Company lifted their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Stock Performance

CAH opened at $127.09 on Thursday. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The firm’s fifty day moving average is $122.69 and its 200 day moving average is $115.91. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Cardinal Health Company 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.