Significant Wealth Partners LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Significant Wealth Partners LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,341 shares of the company’s stock, valued at approximately $236,000.

Several other large investors have also made changes to their positions in the company. Arkadios Wealth Advisors boosted its position in Cardinal Health by 13.8% in the third quarter. Arkadios Wealth Advisors now owns 4,362 shares of the company’s stock valued at $379,000 after buying an additional 530 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Cardinal Health by 65.8% in the third quarter. HB Wealth Management LLC now owns 5,247 shares of the company’s stock valued at $456,000 after acquiring an additional 2,083 shares during the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Cardinal Health by 8.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 5,566 shares of the company’s stock worth $483,000 after acquiring an additional 453 shares in the last quarter. Impact Partnership Wealth LLC grew its position in Cardinal Health by 10,892.3% during the 3rd quarter. Impact Partnership Wealth LLC now owns 2,858 shares of the company’s stock worth $248,000 after acquiring an additional 2,832 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Cardinal Health during the 3rd quarter valued at $126,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH opened at $102.83 on Tuesday. The company has a fifty day moving average price of $109.58 and a two-hundred day moving average price of $104.50. The firm has a market capitalization of $25.01 billion, a PE ratio of 40.48, a P/E/G ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.95%. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays began 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. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.07.

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.