Aaron Wealth Advisors LLC Buys 4,074 Shares of Cardinal Health, Inc. $CAH

Aaron Wealth Advisors LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 65.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,258 shares of the company’s stock after purchasing an additional 4,074 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Cardinal Health were worth $2,108,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. Integrated Wealth Concepts LLC grew its stake in shares of Cardinal Health by 6.9% during the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Cardinal Health during the second quarter valued at about $1,935,000. EverSource Wealth Advisors LLC grew its stake in shares of Cardinal Health by 7.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,348 shares of the company’s stock valued at $394,000 after buying an additional 168 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Cardinal Health by 43.6% during the second quarter. Guggenheim Capital LLC now owns 15,915 shares of the company’s stock valued at $2,674,000 after buying an additional 4,833 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

NYSE:CAH opened at $212.44 on Tuesday. The firm’s 50-day moving average price is $217.67 and its 200-day moving average price is $199.36. The company has a market capitalization of $49.99 billion, a PE ratio of 30.57, a P/E/G ratio of 1.38 and a beta of 0.64. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60.

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

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.5107 dividend. The ex-dividend date 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 presently 29.35%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CAH shares. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research note on Monday, March 9th. Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. TD Cowen lifted their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, Evercore lifted their target price on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $245.67.

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.