Procyon Advisors LLC Boosts Holdings in Cardinal Health, Inc. $CAH

Procyon Advisors LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 78.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,025 shares of the company’s stock after purchasing an additional 7,499 shares during the period. Procyon Advisors LLC’s holdings in Cardinal Health were worth $3,499,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CAH. SJS Investment Consulting Inc. boosted its position in Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Cardinal Health during the third quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Cardinal Health during the third quarter valued at $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Leerink Partners reiterated an “outperform” rating and issued a $275.00 price objective on shares of Cardinal Health in a research report on Monday, March 9th. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $190.00 to $244.00 in a research note on Friday, January 9th. UBS Group set a $260.00 price target on Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. Evercore increased their price target on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Finally, Mizuho raised their price objective on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Trading Down 1.4%

Shares of NYSE CAH opened at $207.91 on Friday. The stock has a market cap of $48.93 billion, a PE ratio of 29.92, a P/E/G ratio of 1.34 and a beta of 0.65. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $233.60. The company has a 50-day moving average of $217.62 and a 200 day moving average of $194.42.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. Cardinal Health’s payout ratio is 29.35%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.