4,664 Shares in Cardinal Health, Inc. $CAH Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,664 shares of the company’s stock, valued at approximately $958,000.

A number of other large investors have also added to or reduced their stakes in the stock. SJS Investment Consulting Inc. boosted its stake in Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. purchased a new position in Cardinal Health in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.8%

Cardinal Health stock opened at $207.57 on Friday. The firm has a 50 day simple moving average of $217.52 and a 200 day simple moving average of $195.73. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60. The firm has a market capitalization of $48.84 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.36 and a beta of 0.65.

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

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health’s dividend payout ratio is 29.35%.

Wall Street Analysts Forecast Growth

CAH has been the subject of several research reports. UBS Group set a $260.00 price objective on Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Argus increased their price target on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Robert W. Baird set a $252.00 price objective on Cardinal Health in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

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.