Ironwood Investment Counsel LLC Cuts Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Ironwood Investment Counsel LLC cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,124 shares of the company’s stock after selling 941 shares during the period. Ironwood Investment Counsel LLC’s holdings in Cardinal Health were worth $4,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Frazier Financial Advisors LLC raised its holdings 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 valued at $28,000 after buying an additional 104 shares during the period. Promus Capital LLC acquired a new position in shares of Cardinal Health during the fourth quarter worth $30,000. AM Squared Ltd purchased a new position in shares of Cardinal Health in the third quarter valued at $33,000. Kentucky Trust Co acquired a new stake in Cardinal Health during the 4th quarter valued at $41,000. Finally, HHM Wealth Advisors LLC increased its stake in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAH shares. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Mizuho started coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Stock Down 0.5 %

Cardinal Health stock opened at $126.24 on Friday. The firm has a 50-day moving average price of $125.99 and a two-hundred day moving average price of $119.14. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The firm has a market capitalization of $30.49 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

About Cardinal Health

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.