CoreCap Advisors LLC Grows Stock Holdings in Cardinal Health, Inc. $CAH

CoreCap Advisors LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,333 shares of the company’s stock after buying an additional 4,431 shares during the quarter. CoreCap Advisors LLC’s holdings in Cardinal Health were worth $6,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kathmere Capital Management LLC boosted its stake in shares of Cardinal Health by 2.5% during the 4th quarter. Kathmere Capital Management LLC now owns 4,193 shares of the company’s stock worth $862,000 after acquiring an additional 102 shares in the last quarter. Sax Wealth Advisors LLC purchased a new position in Cardinal Health in the 4th quarter valued at approximately $958,000. Czech National Bank raised its holdings in Cardinal Health by 3.3% during the fourth quarter. Czech National Bank now owns 62,651 shares of the company’s stock worth $12,875,000 after purchasing an additional 2,002 shares during the last quarter. Canvas Wealth Advisors LLC acquired a new position in Cardinal Health during the fourth quarter worth $251,000. Finally, Moody National Bank Trust Division boosted its position in Cardinal Health by 2.2% during the fourth quarter. Moody National Bank Trust Division now owns 2,696 shares of the company’s stock worth $554,000 after purchasing an additional 57 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH opened at $207.57 on Friday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The company has a market capitalization of $48.84 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.36 and a beta of 0.65. The stock has a fifty day moving average of $217.52 and a two-hundred day moving average of $195.73.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is presently 29.35%.

Analysts Set New Price Targets

CAH has been the topic of several research reports. Morgan Stanley set a $255.00 target price on Cardinal Health in a report on Friday, February 6th. Evercore boosted their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. Finally, Wells Fargo & Company lifted their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.