EverSource Wealth Advisors LLC Sells 266 Shares of Cardinal Health, Inc. (NYSE:CAH)

EverSource Wealth Advisors LLC decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,084 shares of the company’s stock after selling 266 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Cardinal Health were worth $246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAH. State Street Corp grew its position in shares of Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the period. Raymond James Financial Inc. purchased a new stake in Cardinal Health in the fourth quarter worth about $45,115,000. Two Sigma Advisers LP lifted its holdings in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Cardinal Health by 230.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after purchasing an additional 333,095 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of Cardinal Health by 77.3% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock worth $65,539,000 after buying an additional 258,541 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.5 %

NYSE CAH opened at $128.20 on Friday. The company has a 50-day moving average price of $126.33 and a 200-day moving average price of $119.38. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The firm has a market capitalization of $30.97 billion, a P/E ratio of 23.92, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $139.36.

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.