Philip James Wealth Mangement LLC Decreases Stake in Cardinal Health, Inc. (NYSE:CAH)

Philip James Wealth Mangement LLC lowered its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,856 shares of the company’s stock after selling 1,096 shares during the period. Philip James Wealth Mangement LLC’s holdings in Cardinal Health were worth $1,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after buying an additional 8,471 shares during the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock worth $28,435,000 after purchasing an additional 3,576 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Finally, Patton Albertson Miller Group LLC purchased a new position in shares of Cardinal Health during the fourth quarter worth $258,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CAH shares. Wells Fargo & Company raised their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Barclays raised their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Citigroup raised their price target 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. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.87.

Cardinal Health Stock Down 0.3 %

Shares of NYSE CAH opened at $126.35 on Monday. The company’s 50-day simple moving average is $122.85 and its 200-day simple moving average is $116.41. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The firm has a market cap of $30.52 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) 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%. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm 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 is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. Cardinal Health’s payout ratio is presently 37.69%.

About Cardinal Health

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.