Fortem Financial Group LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Fortem Financial Group LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,084 shares of the company's stock, valued at approximately $563,000.

A number of other hedge funds have also made changes to their positions in the business. Pinnacle Bancorp Inc. raised its stake in shares of Cardinal Health by 11.2% in the 1st quarter. Pinnacle Bancorp Inc. now owns 767 shares of the company's stock valued at $106,000 after acquiring an additional 77 shares during the period. CSS LLC IL increased its stake in Cardinal Health by 0.8% during the 4th quarter. CSS LLC IL now owns 11,190 shares of the company's stock worth $1,323,000 after buying an additional 90 shares during the period. Perigon Wealth Management LLC increased its stake in Cardinal Health by 4.2% during the 1st quarter. Perigon Wealth Management LLC now owns 2,242 shares of the company's stock worth $309,000 after buying an additional 90 shares during the period. Smith Shellnut Wilson LLC ADV increased its stake in Cardinal Health by 2.1% during the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 4,399 shares of the company's stock worth $606,000 after buying an additional 91 shares during the period. Finally, TIAA Trust National Association increased its stake in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after buying an additional 94 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analysts Set New Price Targets

CAH has been the topic of several analyst reports. Bank of America lifted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Mizuho lifted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research note on Monday, March 31st. UBS Group lifted their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Finally, Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $1.30 during midday trading on Friday, hitting $160.87. The company's stock had a trading volume of 1,314,182 shares, compared to its average volume of 2,241,478. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $168.44. The firm's fifty day moving average price is $157.67 and its 200-day moving average price is $138.89. The firm has a market cap of $38.40 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.59 and a beta of 0.68.

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

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is presently 31.83%.

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.