Caliber Wealth Management LLC KS Invests $582,000 in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Caliber Wealth Management LLC purchased 4,226 shares of Cardinal Health, valued at approximately $582,000, during the first quarter.
• Several hedge funds have recently increased their stakes in Cardinal Health, indicating strong institutional interest in the company, which is now 87.17% owned by institutional investors.
• Analysts are optimistic about Cardinal Health's future, as highlighted by price target increases from research firms, with the average target price currently at $158.07 and a majority rating of "Moderate Buy."

Caliber Wealth Management LLC KS purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 4,226 shares of the company's stock, valued at approximately $582,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock valued at $691,145,000 after acquiring an additional 109,273 shares during the period. Invesco Ltd. raised its position in shares of Cardinal Health by 4.6% during the 4th quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the last quarter. Marshall Wace LLP raised its position in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the last quarter. Northern Trust Corp raised its position in shares of Cardinal Health by 16.2% during the 4th quarter. Northern Trust Corp now owns 3,037,849 shares of the company's stock worth $359,286,000 after purchasing an additional 422,755 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Cardinal Health by 4.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,321,797 shares of the company's stock worth $274,599,000 after purchasing an additional 94,768 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

Shares of Cardinal Health stock traded up $0.16 on Wednesday, hitting $157.55. The company had a trading volume of 264,776 shares, compared to its average volume of 2,372,543. The business has a 50-day simple moving average of $159.53 and a 200-day simple moving average of $142.13. The company has a market cap of $37.60 billion, a PE ratio of 24.58, a PEG ratio of 1.55 and a beta of 0.68. Cardinal Health, Inc. has a 52 week low of $96.05 and a 52 week high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same period last year, the firm posted $2.08 earnings per share. The business's revenue was up .0% on a year-over-year basis. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.5107 per share. The ex-dividend date was Tuesday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.30%. Cardinal Health's dividend payout ratio is currently 31.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Evercore ISI restated an "outperform" rating and set a $180.00 price objective (up from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Morgan Stanley lifted their target price on shares of Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $158.07.

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.