Congress Wealth Management LLC DE Sells 7,561 Shares of Cardinal Health, Inc. (NYSE:CAH)

Congress Wealth Management LLC DE reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 48.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,897 shares of the company’s stock after selling 7,561 shares during the period. Congress Wealth Management LLC DE’s holdings in Cardinal Health were worth $934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC increased its position in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after purchasing an additional 79 shares during the period. Private Trust Co. NA increased its position in shares of Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock worth $110,000 after buying an additional 92 shares during the period. Checchi Capital Advisers LLC raised its stake in Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after buying an additional 93 shares during the last quarter. MWA Asset Management lifted its holdings in Cardinal Health by 2.9% in the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after buying an additional 95 shares during the period. Finally, Transcend Capital Advisors LLC boosted its position in Cardinal Health by 3.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock valued at $323,000 after acquiring an additional 96 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Citigroup increased their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Performance

Shares of CAH opened at $136.90 on Friday. The firm has a market capitalization of $33.07 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.81. The stock has a 50 day moving average price of $128.16 and a two-hundred day moving average price of $120.59.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Cardinal Health Company 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.