Longboard Asset Management LP Invests $230,000 in Cardinal Health, Inc. (NYSE:CAH)

Longboard Asset Management LP acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,667 shares of the company's stock, valued at approximately $230,000.

Other large investors have also recently modified their holdings of the company. Cyrus J. Lawrence LLC acquired a new stake in Cardinal Health in the fourth quarter valued at $26,000. Tompkins Financial Corp grew its holdings in Cardinal Health by 106.7% during the 1st 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. Promus Capital LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $30,000. Bellwether Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $32,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Cardinal Health during the 4th quarter worth about $35,000. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citigroup reiterated a "neutral" rating and set a $170.00 price target (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. Mizuho increased their price target on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, March 31st. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the stock an "overweight" rating in a report on Friday, June 13th. Wall Street Zen upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Evercore ISI restated an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $157.43.

Cardinal Health Trading Up 0.2%

NYSE CAH traded up $0.27 during trading hours on Tuesday, hitting $164.26. The company's stock had a trading volume of 4,188,897 shares, compared to its average volume of 2,237,081. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $166.32. The company has a market capitalization of $39.21 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 1.83 and a beta of 0.66. The company's 50-day simple moving average is $150.71 and its two-hundred day simple moving average is $134.69.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share 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 for the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter last year, the firm earned $2.08 EPS. The firm's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.24%. Cardinal Health's dividend payout ratio (DPR) is presently 31.51%.

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.