Pacific Capital Wealth Advisors Inc. Acquires Shares of 626 Cardinal Health, Inc. (NYSE:CAH)

Pacific Capital Wealth Advisors Inc. bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 626 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC bought a new position in Cardinal Health during the third quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth $30,000. Hexagon Capital Partners LLC increased its holdings in shares of Cardinal Health by 53.6% in the 4th 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, Wetzel Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the 4th quarter valued at about $36,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Down 2.3 %

Shares of Cardinal Health stock traded down $2.27 during trading on Wednesday, hitting $97.45. 2,280,585 shares of the stock traded hands, compared to its average volume of 2,284,416. Cardinal Health, Inc. has a 52-week low of $80.90 and a 52-week high of $116.04. The stock’s fifty day simple moving average is $108.67 and its 200 day simple moving average is $105.27. The firm has a market cap of $23.74 billion, a P/E ratio of 43.75, a price-to-earnings-growth ratio of 1.01 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, beating the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.74 EPS. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.34 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently declared 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 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 2.08%. Cardinal Health’s dividend payout ratio (DPR) is currently 88.89%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CAH shares. Wells Fargo & Company reduced their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. UBS Group raised their price target on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd. SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price for the company. Finally, Robert W. Baird cut their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.79.

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.