Aaron Wealth Advisors LLC Boosts Stock Holdings in Cardinal Health, Inc. $CAH

Aaron Wealth Advisors LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 65.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,258 shares of the company’s stock after purchasing an additional 4,074 shares during the period. Aaron Wealth Advisors LLC’s holdings in Cardinal Health were worth $2,108,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CAH. Integrated Wealth Concepts LLC increased its stake in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after purchasing an additional 280 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Cardinal Health by 198.3% in the first 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Cardinal Health in the second quarter worth about $1,935,000. EverSource Wealth Advisors LLC increased its stake in shares of Cardinal Health by 7.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,348 shares of the company’s stock worth $394,000 after purchasing an additional 168 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Cardinal Health by 43.6% in the second quarter. Guggenheim Capital LLC now owns 15,915 shares of the company’s stock worth $2,674,000 after purchasing an additional 4,833 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAH. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $190.00 to $244.00 in a research note on Friday, January 9th. Jefferies Financial Group lifted their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a research note on Friday, February 6th. Finally, TD Cowen boosted their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Price Performance

CAH stock opened at $212.44 on Tuesday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The stock has a market cap of $49.99 billion, a PE ratio of 30.57, a P/E/G ratio of 1.38 and a beta of 0.64. The firm has a 50 day simple moving average of $217.67 and a two-hundred day simple moving average of $199.36.

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

Cardinal Health Announces Dividend

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

Cardinal Health Profile

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.