Carmel Capital Partners LLC Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Carmel Capital Partners LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,969 shares of the company’s stock after selling 188 shares during the period. Carmel Capital Partners LLC’s holdings in Cardinal Health were worth $469,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Frazier Financial Advisors LLC boosted its position in 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 last quarter. Promus Capital LLC bought a new position in shares of Cardinal Health during the fourth quarter worth about $30,000. Hara Capital LLC bought a new position in shares of Cardinal Health during the third quarter worth about $31,000. AM Squared Ltd bought a new position in shares of Cardinal Health during the third quarter worth about $33,000. Finally, Kentucky Trust Co bought a new position in shares of Cardinal Health during the fourth quarter worth about $41,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Trading Up 0.9 %

Shares of NYSE:CAH opened at $127.50 on Thursday. The firm’s 50 day moving average is $125.28 and its two-hundred day moving average is $118.57. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The firm has a market capitalization of $30.80 billion, a P/E ratio of 23.79, a PEG ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. Cardinal Health’s payout ratio is currently 37.69%.

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.