Money Concepts Capital Corp Reduces Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Money Concepts Capital Corp lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 66,643 shares of the company’s stock after selling 1,389 shares during the period. Money Concepts Capital Corp’s holdings in Cardinal Health were worth $7,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eastern Bank purchased a new position in shares of Cardinal Health in the third quarter worth about $25,000. Frazier Financial Advisors LLC lifted its holdings in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Hara Capital LLC bought a new position in Cardinal Health in the 3rd quarter worth about $31,000. AM Squared Ltd purchased a new position in Cardinal Health during the 3rd quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Cardinal Health in the third quarter worth about $47,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CAH has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup boosted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $136.87.

Cardinal Health Price Performance

Shares of CAH stock opened at $125.29 on Wednesday. The business has a 50-day moving average of $122.16 and a 200 day moving average of $114.75. The stock has a market capitalization of $30.27 billion, a PE ratio of 23.38, a P/E/G ratio of 1.46 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping 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 anticipate that Cardinal Health, Inc. will post 7.92 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.61%. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.