Everence Capital Management Inc. Buys 1,940 Shares of Cardinal Health, Inc. (NYSE:CAH)

Everence Capital Management Inc. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,030 shares of the company’s stock after purchasing an additional 1,940 shares during the quarter. Everence Capital Management Inc.’s holdings in Cardinal Health were worth $1,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Eastern Bank acquired a new position in shares of Cardinal Health during the third quarter worth $25,000. Frazier Financial Advisors LLC increased its holdings in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the second quarter valued at about $29,000. Hara Capital LLC acquired a new stake in shares of Cardinal Health during the third quarter valued at about $31,000. Finally, AM Squared Ltd bought a new stake in shares of Cardinal Health during the third quarter worth about $33,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.1 %

Shares of CAH stock opened at $119.30 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.23. The firm has a 50 day moving average of $118.80 and a 200-day moving average of $110.37. The company has a market cap of $28.87 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.73 earnings per share. Analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.70%. Cardinal Health’s payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. UBS Group boosted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Morgan Stanley upped their price target on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Mizuho initiated coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

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.