Balentine LLC Has $987,000 Holdings in Cardinal Health, Inc. (NYSE:CAH)

Balentine LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,792 shares of the company’s stock after selling 302 shares during the period. Balentine LLC’s holdings in Cardinal Health were worth $987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAH. Clearstead Trust LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at $25,000. Cornerstone Planning Group LLC acquired a new position in Cardinal Health in the third quarter valued at approximately $26,000. BKM Wealth Management LLC acquired a new stake in Cardinal Health during the 4th quarter worth $30,000. Hexagon Capital Partners LLC raised its position in shares of Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Cardinal Health in the 4th quarter worth $36,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CAH shares. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Wells Fargo & Company dropped their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.57.

Get Our Latest Stock Report on Cardinal Health

Cardinal Health Price Performance

CAH traded down $0.92 during trading on Monday, hitting $98.16. 494,236 shares of the stock traded hands, compared to its average volume of 2,217,090. The business has a 50 day moving average price of $106.34 and a 200 day moving average price of $105.60. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The company has a market cap of $23.91 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.12 and a beta of 0.71.

Cardinal Health (NYSE:CAHGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. The business had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 EPS. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s payout ratio is presently 88.89%.

Cardinal Health Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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