Etesian Wealth Advisors Inc. Sells 870 Shares of Cardinal Health, Inc. (NYSE:CAH)

Etesian Wealth Advisors Inc. trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 13.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,788 shares of the company’s stock after selling 870 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Cardinal Health were worth $648,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CAH. Norges Bank purchased a new stake in Cardinal Health in the 4th quarter valued at about $258,499,000. Ameriprise Financial Inc. boosted its position in Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares during the period. California Public Employees Retirement System boosted its position in Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after buying an additional 823,520 shares during the period. International Assets Investment Management LLC purchased a new stake in Cardinal Health in the 4th quarter valued at about $464,800,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of Cardinal Health by 1,941.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 458,160 shares of the company’s stock worth $46,183,000 after purchasing an additional 435,722 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

NYSE:CAH traded down $2.11 during midday trading on Wednesday, reaching $101.02. 771,676 shares of the stock traded hands, compared to its average volume of 2,192,642. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The business has a 50-day moving average of $100.31 and a two-hundred day moving average of $104.65. The stock has a market capitalization of $24.61 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same quarter in the prior year, the business posted $1.74 EPS. Cardinal Health’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.5056 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.00%. Cardinal Health’s dividend payout ratio is presently 88.89%.

Analyst Ratings Changes

CAH has been the subject of several research reports. Argus lowered their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. StockNews.com raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Robert W. Baird lowered their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Evercore ISI upped their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.67.

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.