Summit Trail Advisors LLC Increases Position in Cardinal Health, Inc. (NYSE:CAH)

Summit Trail Advisors LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 52.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,990 shares of the company’s stock after buying an additional 1,373 shares during the period. Summit Trail Advisors LLC’s holdings in Cardinal Health were worth $441,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CAH. Alpha Cubed Investments LLC bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $371,000. Charles Schwab Investment Management Inc. raised its stake in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after acquiring an additional 33,388 shares in the last quarter. Murphy Pohlad Asset Management LLC bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $1,208,000. Cetera Investment Advisers raised its stake in shares of Cardinal Health by 62.7% during the first quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock valued at $12,953,000 after acquiring an additional 44,615 shares in the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $507,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAH. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Argus lifted their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Trading Up 0.6 %

Shares of CAH stock opened at $122.45 on Wednesday. The business’s fifty day simple moving average is $114.07 and its 200-day simple moving average is $106.13. The company has a market cap of $29.63 billion, a PE ratio of 23.82, a PEG ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $126.14.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.