Trust Co. of Toledo NA OH Buys Shares of 1,764 Cardinal Health, Inc. (NYSE:CAH)

Trust Co. of Toledo NA OH bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,764 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after buying an additional 33,388 shares during the period. Alpha Cubed Investments LLC acquired a new position in shares of Cardinal Health during the third quarter worth approximately $371,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Cardinal Health during the third quarter worth approximately $1,691,000. Finally, National Wealth Management Group LLC acquired a new position in shares of Cardinal Health during the third quarter worth approximately $903,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on CAH. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Finally, Barclays boosted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.29.

Cardinal Health Price Performance

NYSE:CAH opened at $120.87 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23. The stock’s 50-day moving average is $120.06 and its two-hundred day moving average is $111.23. The stock has a market cap of $29.25 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.67%. Cardinal Health’s payout ratio is 39.30%.

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.