Farther Finance Advisors LLC Buys 297 Shares of Cardinal Health, Inc. (NYSE:CAH)

Farther Finance Advisors LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,732 shares of the company’s stock after buying an additional 297 shares during the period. Farther Finance Advisors LLC’s holdings in Cardinal Health were worth $914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Atria Investments Inc raised its position in shares of Cardinal Health by 7.5% during the third quarter. Atria Investments Inc now owns 12,810 shares of the company’s stock worth $1,416,000 after purchasing an additional 899 shares during the period. Venturi Wealth Management LLC raised its position in shares of Cardinal Health by 50.1% during the third quarter. Venturi Wealth Management LLC now owns 974 shares of the company’s stock worth $108,000 after purchasing an additional 325 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Cardinal Health by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 621,508 shares of the company’s stock worth $68,689,000 after purchasing an additional 5,600 shares during the period. Prime Capital Investment Advisors LLC raised its position in shares of Cardinal Health by 11.4% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,618 shares of the company’s stock worth $510,000 after purchasing an additional 472 shares during the period. Finally, Huntington National Bank raised its position in shares of Cardinal Health by 0.9% during the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after purchasing an additional 100 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 1.5 %

NYSE:CAH opened at $128.20 on Friday. The firm has a market capitalization of $30.97 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The stock’s 50 day moving average price is $126.33 and its two-hundred day moving average price is $119.31.

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

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CAH shares. Citigroup raised their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $139.36.

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.