Foundations Investment Advisors LLC Trims Stake in Cardinal Health, Inc. (NYSE:CAH)

Foundations Investment Advisors LLC lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,534 shares of the company’s stock after selling 247 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Cardinal Health were worth $655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Cardinal Health by 11.3% in the 4th quarter. Blue Trust Inc. now owns 6,125 shares of the company’s stock worth $677,000 after acquiring an additional 622 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Cardinal Health during the fourth quarter worth about $315,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Cardinal Health by 10.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,982 shares of the company’s stock worth $1,890,000 after purchasing an additional 1,505 shares during the last quarter. Jamison Private Wealth Management Inc. raised its stake in Cardinal Health by 2.7% in the fourth quarter. Jamison Private Wealth Management Inc. now owns 24,461 shares of the company’s stock valued at $2,893,000 after purchasing an additional 648 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in Cardinal Health by 20.1% during the fourth quarter. First Citizens Bank & Trust Co. now owns 3,031 shares of the company’s stock valued at $358,000 after purchasing an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.2 %

CAH stock opened at $127.53 on Thursday. The firm’s 50-day moving average price is $121.90 and its two-hundred day moving average price is $113.75. The stock has a market capitalization of $30.86 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $131.29.

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

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CAH shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group raised their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Mizuho initiated coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. 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, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $135.21.

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.