Fifth Third Wealth Advisors LLC Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,070 shares of the company’s stock after purchasing an additional 593 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Cardinal Health were worth $450,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Alpha Cubed Investments LLC purchased a new stake in shares of Cardinal Health during the third quarter worth about $371,000. Bessemer Group Inc. boosted its stake in Cardinal Health by 38.7% during the first quarter. Bessemer Group Inc. now owns 19,190 shares of the company’s stock valued at $2,148,000 after buying an additional 5,352 shares during the last quarter. Murphy Pohlad Asset Management LLC bought a new position in Cardinal Health during the second quarter valued at approximately $1,208,000. Cetera Investment Advisers boosted its stake in Cardinal Health by 62.7% during the first quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock valued at $12,953,000 after buying an additional 44,615 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in Cardinal Health during the third quarter valued at approximately $507,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $120.34 on Thursday. The stock has a 50-day moving average of $113.51 and a two-hundred day moving average of $105.58. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The stock has a market cap of $29.12 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.48 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.68%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAH shares. Morgan Stanley increased their price target on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Evercore ISI increased their price target on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Mizuho raised their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Barclays raised 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. Finally, StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.00.

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.