Forza Wealth Management LLC Reduces Position in Cardinal Health, Inc. (NYSE:CAH)

Forza Wealth Management LLC trimmed its position in Cardinal Health, Inc. (NYSE:CAH) by 2.6% during the 1st quarter, Holdings Channel reports. The institutional investor 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank boosted its holdings in shares of Cardinal Health by 47.6% during the third quarter. Czech National Bank now owns 44,499 shares of the company’s stock worth $3,863,000 after purchasing an additional 14,359 shares during the period. Country Club Bank GFN boosted its holdings in Cardinal Health by 91.7% in the third quarter. Country Club Bank GFN now owns 11,636 shares of the company’s stock valued at $1,022,000 after acquiring an additional 5,565 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new position in shares of Cardinal Health during the third quarter valued at about $861,000. Ascent Wealth Partners LLC purchased a new position in shares of Cardinal Health during the 3rd quarter worth approximately $957,000. Finally, Brookstone Capital Management raised its position in shares of Cardinal Health by 6.4% in the 3rd quarter. Brookstone Capital Management now owns 12,043 shares of the company’s stock worth $1,118,000 after acquiring an additional 724 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Shares of CAH stock traded down $0.28 during mid-day trading on Monday, hitting $102.93. The company’s stock had a trading volume of 1,690,841 shares, compared to its average volume of 2,247,387. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 40.52, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04. The business has a 50-day moving average price of $109.48 and a 200 day moving average price of $104.93.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping 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 analyst estimates of $57.02 billion. During the same period in the previous year, the business posted $1.32 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts predict that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. 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 payout ratio is currently 78.74%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several recent research reports. Barclays began coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. UBS Group boosted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.93.

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.