Cardinal Health, Inc. (NYSE:CAH) Shares Bought by Redhawk Wealth Advisors Inc.

Redhawk Wealth Advisors Inc. lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,378 shares of the company’s stock after purchasing an additional 764 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Cardinal Health were worth $754,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State Street Corp grew its position in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC increased its stake in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares during the last quarter. ProShare Advisors LLC boosted its position in Cardinal Health by 5.1% during the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of several research reports. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $101.00 to $127.00 in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Finally, Morgan Stanley raised their price target on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Trading Up 1.9 %

Shares of 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 stock’s 50-day moving average price is $120.46 and its two-hundred day moving average price is $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 released its 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 net margin of 0.56% and a negative return on equity of 56.56%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period last year, the company earned $1.73 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

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

Cardinal Health 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.