Janney Montgomery Scott LLC Acquires 11,923 Shares of Cardinal Health, Inc. (NYSE:CAH)

Janney Montgomery Scott LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 251,025 shares of the company’s stock after buying an additional 11,923 shares during the period. Janney Montgomery Scott LLC’s holdings in Cardinal Health were worth $29,689,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Eastern Bank bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares in 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 bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $33,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $47,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $128.89 on Friday. The business has a fifty day simple moving average of $121.36 and a two-hundred day simple moving average of $112.92. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $129.68. The company has a market capitalization of $31.19 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $101.00 to $127.00 in a report on Friday, December 13th. Citigroup increased their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Morgan Stanley increased their price objective on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.64.

Cardinal Health 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.