Transform Wealth LLC Acquires New Position in Cardinal Health, Inc. (NYSE:CAH)

Transform Wealth LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,124 shares of the company’s stock, valued at approximately $1,197,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Eastern Bank acquired a new stake in shares of Cardinal Health during the third quarter worth $25,000. Frazier Financial Advisors LLC lifted its position in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Hara Capital LLC purchased a new position in Cardinal Health during the third quarter worth about $31,000. AM Squared Ltd acquired a new stake in Cardinal Health in the 3rd quarter worth about $33,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in Cardinal Health in the 3rd quarter valued at about $47,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAH has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Citigroup lifted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $101.00 to $127.00 in a research note on Friday, December 13th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Performance

Cardinal Health stock opened at $127.81 on Wednesday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $127.89. The stock’s 50 day moving average price is $120.92 and its 200 day moving average price is $112.47. The firm has a market capitalization of $30.93 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.54 and a beta of 0.63.

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

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is 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.