Liberty Wealth Management LLC Invests $2.39 Million in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Liberty Wealth Management LLC invested approximately $2.39 million in Cardinal Health, acquiring 17,378 shares during the first quarter of the year.
• Cardinal Health has seen a positive shift in analyst ratings, with firms like Wells Fargo upgrading their rating from "equal weight" to "overweight" and increasing target prices significantly, indicating strong market confidence.
• In the latest quarterly earnings report, Cardinal Health reported earnings per share of $2.35, beating consensus estimates, while revenue for the quarter was $54.88 billion, which was slightly below expectations.

Liberty Wealth Management LLC acquired a new position 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 SEC. The fund acquired 17,378 shares of the company's stock, valued at approximately $2,394,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Cardinal Health by 3.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 76,355 shares of the company's stock worth $10,519,000 after buying an additional 2,474 shares in the last quarter. IFG Advisory LLC raised its stake in shares of Cardinal Health by 7.0% in the 1st quarter. IFG Advisory LLC now owns 2,331 shares of the company's stock worth $321,000 after buying an additional 153 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Cardinal Health in the 1st quarter worth $385,000. US Bancorp DE raised its stake in shares of Cardinal Health by 0.7% in the 1st quarter. US Bancorp DE now owns 44,114 shares of the company's stock worth $6,078,000 after buying an additional 292 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Cardinal Health by 11.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,736 shares of the company's stock worth $2,444,000 after buying an additional 1,754 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upgraded 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 report on Tuesday, June 3rd. Evercore ISI restated an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Bank of America lifted their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Wall Street Zen cut Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Morgan Stanley lifted their target price on Cardinal Health from $181.00 to $190.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Cardinal Health has an average rating of "Moderate Buy" and an average target price of $158.07.

Cardinal Health Trading Up 0.5%

Shares of CAH stock opened at $155.97 on Monday. Cardinal Health, Inc. has a 1-year low of $96.05 and a 1-year high of $168.44. The company 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. The stock's fifty day simple moving average is $159.74 and its 200-day simple moving average is $142.94.

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 for the quarter, beating analysts' consensus estimates 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 previous year, the company posted $2.08 earnings per share. Cardinal Health's revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

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.

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