Graypoint LLC Acquires 1,828 Shares of Cardinal Health, Inc. (NYSE:CAH)

Graypoint LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 76.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,208 shares of the company’s stock after buying an additional 1,828 shares during the quarter. Graypoint LLC’s holdings in Cardinal Health were worth $498,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Eastern Bank acquired a new position in Cardinal Health during the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC raised its position in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the last quarter. Hara Capital LLC bought a new stake in shares of Cardinal Health in the third quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Cardinal Health during the second quarter worth about $29,000. Finally, AM Squared Ltd bought a new position in Cardinal Health during the third quarter valued at about $33,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

NYSE CAH opened at $121.70 on Friday. The stock’s 50 day simple moving average is $119.88 and its 200 day simple moving average is $111.01. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23. The firm has a market cap of $29.45 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.47 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 analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Citigroup lifted their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho assumed coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $133.29.

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.