Johnson Investment Counsel Inc. Has $930,000 Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Johnson Investment Counsel Inc. cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 1.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,866 shares of the company’s stock after selling 96 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Cardinal Health were worth $930,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CAH. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Promus Capital LLC acquired a new stake in Cardinal Health during the 4th quarter worth approximately $30,000. AM Squared Ltd acquired a new stake in Cardinal Health during the 3rd quarter worth approximately $33,000. Kentucky Trust Co acquired a new stake in Cardinal Health during the 4th quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC boosted its position in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Mizuho began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Citigroup boosted their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Finally, Morgan Stanley boosted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Price Performance

NYSE CAH opened at $126.87 on Thursday. The firm has a market cap of $30.65 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.49 and a beta of 0.66. The company has a fifty day moving average price of $125.99 and a 200-day moving average price of $119.14. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s payout ratio is currently 37.69%.

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.