Tidal Investments LLC Purchases 3,882 Shares of Cardinal Health, Inc. (NYSE:CAH)

Tidal Investments LLC increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,105 shares of the company's stock after buying an additional 3,882 shares during the quarter. Tidal Investments LLC's holdings in Cardinal Health were worth $2,369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health during the 4th quarter worth $26,000. Promus Capital LLC bought a new stake in Cardinal Health in the fourth quarter worth about $30,000. Bellwether Advisors LLC acquired a new stake in Cardinal Health in the 4th quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new stake in Cardinal Health in the 4th quarter valued at about $35,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Cardinal Health in the 4th quarter valued at about $36,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $0.70 during mid-day trading on Wednesday, reaching $153.98. The company had a trading volume of 220,919 shares, compared to its average volume of 2,222,591. The stock has a fifty day moving average of $140.43 and a two-hundred day moving average of $129.66. The company has a market capitalization of $36.75 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $156.44.

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

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. Cardinal Health's dividend payout ratio is 31.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group upped their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price target for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley upped their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.43.

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.