Sheets Smith Wealth Management Sells 700 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sheets Smith Wealth Management lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,390 shares of the company’s stock after selling 700 shares during the quarter. Sheets Smith Wealth Management’s holdings in Cardinal Health were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CAH. Clearstead Trust LLC bought a new position in Cardinal Health during the 4th quarter worth about $25,000. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at about $26,000. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its position in shares of Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in Cardinal Health during the 4th quarter valued at about $36,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.3 %

Shares of NYSE CAH opened at $98.59 on Tuesday. The firm has a market capitalization of $24.01 billion, a PE ratio of 43.82, a PEG ratio of 1.01 and a beta of 0.71. The business has a 50-day moving average price of $108.86 and a two-hundred day moving average price of $105.21. Cardinal Health, Inc. has a one year low of $80.90 and a one year high of $116.04.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on CAH shares. Robert W. Baird lowered their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Friday. Evercore ISI increased their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, four have issued 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.com, the stock has an average rating of “Moderate Buy” and a consensus 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.