Sequoia Financial Advisors LLC Trims Stake in Cardinal Health, Inc. (NYSE:CAH)

Sequoia Financial Advisors LLC reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,705 shares of the company’s stock after selling 625 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cardinal Health were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health during the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. increased its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after purchasing an additional 268 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health in the fourth quarter worth $30,000. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health in the first quarter worth $32,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CAH. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Evercore ISI upped their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Wells Fargo & Company dropped their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Robert W. Baird dropped their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Argus dropped their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

View Our Latest Research Report on CAH

Cardinal Health Trading Up 0.2 %

Shares of CAH opened at $95.89 on Monday. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The company has a market cap of $23.36 billion, a P/E ratio of 42.62, a P/E/G ratio of 1.06 and a beta of 0.61. The company’s fifty day simple moving average is $99.18 and its 200-day simple moving average is $104.32.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.74 EPS. Analysts predict that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 2.11%. The ex-dividend date is Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is currently 89.78%.

About Cardinal Health

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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