Blueshift Asset Management LLC Makes New $385,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Blueshift Asset Management LLC has made a new investment of approximately $385,000 in Cardinal Health, acquiring 2,796 shares of the stock.
• Cardinal Health reported $2.35 earnings per share for the last quarter, exceeding analysts' expectations, and has declared a quarterly dividend of $0.5107 per share, reflecting an increase.
• Analysts have raised their price targets for Cardinal Health, with a consensus price target now around $158.07, indicating a generally positive outlook for the stock.

Blueshift Asset Management LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,796 shares of the company's stock, valued at approximately $385,000.

A number of other large investors have also bought and sold shares of CAH. Bellwether Advisors LLC purchased a new stake in Cardinal Health in the fourth quarter worth $32,000. Tompkins Financial Corp boosted its holdings in shares of Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company's stock worth $34,000 after acquiring an additional 128 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of Cardinal Health in the fourth quarter worth $36,000. GW&K Investment Management LLC boosted its holdings in shares of Cardinal Health by 113.4% in the first quarter. GW&K Investment Management LLC now owns 271 shares of the company's stock worth $37,000 after acquiring an additional 144 shares during the period. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Cardinal Health in the fourth quarter worth $47,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

NYSE:CAH opened at $155.97 on Friday. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 1.55 and a beta of 0.67. Cardinal Health, Inc. has a 52-week low of $96.05 and a 52-week high of $168.44. The stock has a fifty day moving average of $159.74 and a 200 day moving average of $142.83.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company's revenue was up .0% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.3%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, July 1st. Cardinal Health's dividend payout ratio is presently 31.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CAH shares. Citigroup reaffirmed a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Bank of America raised their price target on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Robert W. Baird raised their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Finally, Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.07.

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.

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