Scissortail Wealth Management LLC Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Scissortail Wealth Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,950 shares of the company’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at about $26,000. BKM Wealth Management LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $30,000. Retirement Group LLC lifted its holdings in Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after acquiring an additional 431 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $41,000. Finally, Headlands Technologies LLC acquired a new position in Cardinal Health during the third quarter worth $47,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of a number of research reports. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Barclays initiated coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective on the stock. UBS Group increased their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. 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 MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Stock Up 0.1 %

CAH traded up $0.14 on Wednesday, hitting $107.17. 1,515,804 shares of the company traded hands, compared to its average volume of 1,578,602. The company has a 50 day moving average of $109.45 and a 200-day moving average of $104.00. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04. The stock has a market capitalization of $26.07 billion, a PE ratio of 42.20, a PEG ratio of 1.03 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The business 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%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.32 earnings per share. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

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

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.