BOK Financial Private Wealth Inc. Trims Stock Position in Cardinal Health, Inc. $CAH

BOK Financial Private Wealth Inc. reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 34.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,426 shares of the company’s stock after selling 2,337 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in Cardinal Health were worth $695,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. SJS Investment Consulting Inc. increased its stake in Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the period. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Cardinal Health by 75.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in shares of Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after acquiring an additional 71 shares during the period. American Capital Advisory LLC raised its holdings in Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after purchasing an additional 208 shares in the last quarter. Finally, NewSquare Capital LLC lifted its position in Cardinal Health by 100.0% in the second quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock valued at $36,000 after purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Wells Fargo & Company increased their price objective on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. Finally, TD Cowen increased their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $244.20.

Cardinal Health Stock Up 2.1%

Shares of CAH stock opened at $225.41 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The stock has a market cap of $53.04 billion, a P/E ratio of 32.43, a P/E/G ratio of 1.42 and a beta of 0.64. The business has a fifty day simple moving average of $209.83 and a 200-day simple moving average of $183.49.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the firm earned $1.93 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.