Arkadios Wealth Advisors Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Arkadios Wealth Advisors acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,050 shares of the company’s stock, valued at approximately $242,000.

A number of other large investors have also recently bought and sold shares of CAH. Eastern Bank bought a new position in shares of Cardinal Health during the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% during the 3rd 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. Hara Capital LLC bought a new position in Cardinal Health during the 3rd quarter worth $31,000. AM Squared Ltd bought a new position in Cardinal Health during the 3rd quarter worth $33,000. Finally, Carolina Wealth Advisors LLC acquired a new stake in Cardinal Health in the third quarter worth $47,000. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of 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 research report on Friday, December 13th. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Citigroup increased their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Performance

Cardinal Health stock opened at $129.38 on Friday. The business’s 50-day simple moving average is $121.15 and its 200-day simple moving average is $112.70. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $129.68. The firm has a market capitalization of $31.31 billion, a PE ratio of 25.17, a PEG ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 earnings per share. Research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. Cardinal Health’s dividend payout ratio is currently 39.30%.

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.