Tidal Investments LLC Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Tidal Investments LLC increased its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 23.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,105 shares of the company's stock after purchasing 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.

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

Cardinal Health Stock Performance

Cardinal Health stock traded up $1.61 during midday trading on Tuesday, hitting $154.36. 683,984 shares of the company's stock were exchanged, compared to its average volume of 2,225,823. The stock has a 50-day moving average price of $139.99 and a two-hundred day moving average price of $129.49. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $156.44. The company has a market cap of $36.84 billion, a P/E ratio of 28.80, a PEG ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have weighed in on CAH. Robert W. Baird increased their target price on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. UBS Group increased their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Wells Fargo & Company upped their target price 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, Bank of America boosted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a report on Friday, April 11th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $146.43.

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.