Forza Wealth Management LLC Has $1.69 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Forza Wealth Management LLC cut its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,125 shares of the company’s stock after selling 400 shares during the period. Forza Wealth Management LLC’s holdings in Cardinal Health were worth $1,692,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth $25,000. Raleigh Capital Management Inc. lifted its holdings in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the period. Cornerstone Planning Group LLC bought a new stake in shares of Cardinal Health in the 3rd quarter valued at about $26,000. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $30,000. Finally, Hexagon Capital Partners LLC increased its stake in shares of Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAH. Wells Fargo & Company reduced their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 24th. SVB Leerink started coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Barclays started coverage on Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 target price for the company. Finally, UBS Group boosted their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.93.

Cardinal Health Stock Down 0.3 %

CAH stock traded down $0.28 during midday trading on Monday, reaching $102.93. 1,690,841 shares of the company’s stock traded hands, compared to its average volume of 2,247,387. The firm’s fifty day moving average price is $109.48 and its 200-day moving average price is $104.93. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04. The company has a market cap of $25.03 billion, a price-to-earnings ratio of 40.52, a P/E/G ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. During the same period last year, the company earned $1.32 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

Cardinal Health Company 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.