Prospera Private Wealth LLC Invests $77,000 in Cardinal Health, Inc. (NYSE:CAH)

Prospera Private Wealth LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 696 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds have also bought and sold shares of the company. Eastern Bank bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC lifted its position in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health during the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at $31,000. Finally, LRI Investments LLC bought a new stake in Cardinal Health in the 1st quarter worth $32,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 2.5 %

Shares of CAH opened at $123.30 on Friday. The company has a market cap of $29.84 billion, a price-to-earnings ratio of 23.99, a P/E/G ratio of 1.48 and a beta of 0.60. The business’s fifty day simple moving average is $113.72 and its two-hundred day simple moving average is $105.70. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14.

Cardinal Health (NYSE:CAH) last posted its earnings results 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. 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 quarter in the prior year, the business earned $1.73 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.64%. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research note on Thursday, August 15th. Robert W. Baird raised their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley increased their price objective on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho boosted their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price 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.