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

Accurate Wealth Management LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,822 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. Eastern Bank bought a new position in Cardinal Health during the third quarter worth about $25,000. Frazier Financial Advisors LLC increased its position in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after buying an additional 104 shares during the period. Hara Capital LLC purchased a new stake in shares of Cardinal Health in the third quarter worth about $31,000. AM Squared Ltd bought a new position in shares of Cardinal Health in the third quarter valued at approximately $33,000. Finally, Carolina Wealth Advisors LLC purchased a new position in Cardinal Health during the third quarter valued at approximately $47,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CAH. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $101.00 to $127.00 in a report on Friday, December 13th. Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Morgan Stanley upped their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.29.

Cardinal Health Stock Up 1.9 %

NYSE CAH opened at $127.03 on Friday. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 1.48 and a beta of 0.63. The company has a 50-day simple moving average of $120.46 and a two-hundred day simple moving average of $111.50. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $127.08.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s payout ratio is currently 39.30%.

About Cardinal Health

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.