Resonant Capital Advisors LLC Sells 2,425 Shares of Cardinal Health, Inc. (NYSE:CAH)

Resonant Capital Advisors LLC decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,562 shares of the company’s stock after selling 2,425 shares during the period. Resonant Capital Advisors LLC’s holdings in Cardinal Health were worth $867,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. lifted its holdings in shares of Cardinal Health by 5.8% in the 4th quarter. Federated Hermes Inc. now owns 267,941 shares of the company’s stock valued at $27,008,000 after acquiring an additional 14,606 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Cardinal Health by 0.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 27,436 shares of the company’s stock worth $2,765,000 after purchasing an additional 178 shares during the period. Latitude Advisors LLC raised its position in Cardinal Health by 6.2% in the 4th quarter. Latitude Advisors LLC now owns 2,512 shares of the company’s stock worth $253,000 after purchasing an additional 146 shares during the period. Scissortail Wealth Management LLC purchased a new stake in Cardinal Health in the 4th quarter worth about $314,000. Finally, HealthInvest Partners AB purchased a new stake in Cardinal Health in the 4th quarter worth about $4,838,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE CAH opened at $108.19 on Friday. The firm’s 50 day moving average price is $109.59 and its 200-day moving average price is $104.18. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04. The company has a market cap of $26.32 billion, a PE ratio of 42.59, a P/E/G ratio of 1.02 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. During the same period last year, the firm earned $1.32 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.85%. Cardinal Health’s dividend payout ratio is presently 78.74%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. UBS Group increased their price objective 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. Barclays assumed coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective on the stock. Finally, SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.07.

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.