Procyon Advisors LLC Invests $1.51 Million in Cardinal Health, Inc. (NYSE:CAH)

Procyon Advisors LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,937 shares of the company's stock, valued at approximately $1,507,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $246,748,000. Marshall Wace LLP boosted its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after buying an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Cardinal Health during the fourth quarter valued at $141,963,000. GAMMA Investing LLC grew its position in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after buying an additional 959,486 shares during the period. Finally, Junto Capital Management LP purchased a new position in Cardinal Health in the fourth quarter valued at $92,811,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Shares of CAH stock opened at $154.68 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $157.82. The stock's fifty day moving average is $143.52 and its two-hundred day moving average is $131.43. The firm has a market capitalization of $36.92 billion, a P/E ratio of 28.86, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The business had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.83%.

Analyst Ratings Changes

CAH has been the topic of several recent analyst reports. Mizuho increased their target price 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 increased their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup restated a "neutral" rating on shares of Cardinal Health in a research report on Thursday, May 1st. Morgan Stanley upped their target price on Cardinal Health from $142.00 to $166.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.50.

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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