GAMMA Investing LLC Acquires 1,549 Shares of Cardinal Health, Inc. (NYSE:CAH)

GAMMA Investing LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 28.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,004 shares of the company's stock after acquiring an additional 1,549 shares during the period. GAMMA Investing LLC's holdings in Cardinal Health were worth $965,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAH. Norges Bank acquired a new position in shares of Cardinal Health during the fourth quarter worth approximately $246,748,000. Marshall Wace LLP increased its stake in Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock valued at $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Cardinal Health during the fourth quarter worth $141,963,000. Junto Capital Management LP bought a new position in shares of Cardinal Health in the fourth quarter valued at $92,811,000. Finally, Woodline Partners LP bought a new position in shares of Cardinal Health in the fourth quarter valued at $87,144,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH stock traded down $1.17 during mid-day trading on Wednesday, hitting $163.23. The company had a trading volume of 1,449,253 shares, compared to its average volume of 2,482,322. The firm has a market cap of $38.96 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.87 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $168.44. The stock's fifty day moving average price is $153.91 and its two-hundred day moving average price is $136.31.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating 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 business had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Cardinal Health's revenue for the quarter was up .0% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAH. UBS Group raised their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Robert W. Baird increased their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Finally, Morgan Stanley set a $181.00 price objective on Cardinal Health and gave the company an "overweight" rating in a research note on Friday, June 13th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and a consensus target price of $157.43.

Cardinal Health 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.