Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 41.2% in the 4th quarter, Holdings Channel reports. The fund owned 5,330 shares of the company’s stock after acquiring an additional 1,556 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cardinal Health were worth $537,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its stake in Cardinal Health by 53.6% during the first quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock worth $1,452,000 after buying an additional 8,935 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Cardinal Health by 4.8% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock valued at $2,102,000 after acquiring an additional 1,702 shares during the last quarter. Cibc World Market Inc. purchased a new stake in shares of Cardinal Health in the first quarter valued at about $212,000. Blair William & Co. IL increased its position in Cardinal Health by 6.7% during the first quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock worth $667,000 after purchasing an additional 734 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Cardinal Health by 6.4% during the first quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock worth $26,792,000 after purchasing an additional 28,568 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $107.19 on Wednesday. The business has a 50-day simple moving average of $109.45 and a 200-day simple moving average of $104.00. The company has a market cap of $26.07 billion, a PE ratio of 42.20, a P/E/G ratio of 1.01 and a beta of 0.68. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04.

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

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.87%. Cardinal Health’s dividend payout ratio is presently 78.74%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. SVB Leerink assumed coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target on the stock. UBS Group raised their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Barclays began coverage on shares of Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price 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.