Burford Brothers Inc. Buys New Shares in Cardinal Health, Inc. (NYSE:CAH)

Burford Brothers Inc. acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, Holdings Channel reports. The firm acquired 10,617 shares of the company’s stock, valued at approximately $1,256,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Eastern Bank acquired a new position in Cardinal Health during the third quarter worth approximately $25,000. Frazier Financial Advisors LLC lifted its position in shares of 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 buying an additional 104 shares during the last quarter. Hara Capital LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. AM Squared Ltd acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $33,000. Finally, Carolina Wealth Advisors LLC bought a new stake in Cardinal Health in the 3rd quarter valued at $47,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 3.7 %

NYSE:CAH opened at $123.56 on Monday. The firm has a market capitalization of $29.90 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The stock’s 50-day simple moving average is $122.03 and its 200 day simple moving average is $114.32.

Cardinal Health (NYSE:CAH) last announced its quarterly 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 0.56% and a negative return on equity of 56.56%. On average, analysts anticipate that Cardinal Health, Inc. will post 7.84 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Morgan Stanley increased their target price on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $135.64.

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.