Bartlett & CO. Wealth Management LLC Cuts Stake in Cardinal Health, Inc. (NYSE:CAH)

Bartlett & CO. Wealth Management LLC decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 19,503 shares of the company’s stock after selling 330 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Cardinal Health were worth $2,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CAH. Eastern Bank acquired a new stake in Cardinal Health in the third quarter valued at about $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of Cardinal Health by 69.8% in the 3rd 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 period. Hara Capital LLC purchased a new stake in shares of Cardinal Health in the third quarter valued at approximately $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the third quarter worth $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Cardinal Health in the third quarter worth $47,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $129.38 on Friday. The company has a 50-day simple moving average of $121.15 and a 200-day simple moving average of $112.70. The company has a market cap of $31.31 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $129.68.

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

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their target price 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. 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 research report on Friday, January 10th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Finally, Morgan Stanley lifted their price objective on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.29.

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.