Marcum Wealth LLC Makes New $236,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Marcum Wealth LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,714 shares of the company's stock, valued at approximately $236,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Cardinal Health during the 4th quarter worth $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 worth $372,756,000 after acquiring an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Cardinal Health during the 4th quarter worth $141,963,000. Junto Capital Management LP bought a new position in Cardinal Health during the 4th quarter worth $92,811,000. Finally, Woodline Partners LP bought a new position in Cardinal Health during the 4th quarter worth $87,144,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $136.00 to $179.00 in a research note on Tuesday. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Wall Street Zen raised Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Robert W. Baird lifted their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their target price on Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.50.

Cardinal Health Stock Performance

NYSE CAH traded down $1.21 on Wednesday, hitting $154.27. 386,234 shares of the stock traded hands, compared to its average volume of 2,211,089. The business's fifty day moving average is $142.49 and its two-hundred day moving average is $130.79. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $158.02. The firm has a market capitalization of $36.82 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.49 and a beta of 0.66.

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. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 earnings per share. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm 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 $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 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.