Wealthfront Advisers LLC Purchases 4,015 Shares of Cardinal Health, Inc. $CAH

Wealthfront Advisers LLC lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 7.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,299 shares of the company’s stock after acquiring an additional 4,015 shares during the period. Wealthfront Advisers LLC’s holdings in Cardinal Health were worth $11,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $25,000. SJS Investment Consulting Inc. increased its stake in shares of Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Barnes Dennig Private Wealth Management LLC lifted its position in shares of Cardinal Health by 38.7% during the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock valued at $39,000 after acquiring an additional 53 shares during the period. JPL Wealth Management LLC bought a new position in Cardinal Health during the third quarter worth $31,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Cardinal Health during the third quarter valued at about $31,000. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. TD Cowen raised their target price on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Barclays increased their price target on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. Wells Fargo & Company boosted their price objective on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Argus increased their target price on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Robert W. Baird set a $252.00 price target on shares of Cardinal Health in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.33.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $205.58 on Wednesday. Cardinal Health, Inc. has a 1 year low of $136.71 and a 1 year high of $233.60. The firm has a market cap of $48.38 billion, a PE ratio of 29.58, a P/E/G ratio of 1.30 and a beta of 0.64. The stock has a fifty day moving average price of $214.77 and a 200-day moving average price of $205.56.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same period in the previous year, the firm earned $1.93 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 10.32 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st were given a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, April 1st. Cardinal Health’s dividend payout ratio is currently 29.35%.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.