Visionary Horizons LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,642 shares of the company's stock, valued at approximately $640,000.
Other hedge funds have also bought and sold shares of the company. Strategic Financial Concepts LLC bought a new position in Cardinal Health in the 4th quarter worth approximately $93,000. Wilmington Savings Fund Society FSB grew its stake in shares of Cardinal Health by 2.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 7,870 shares of the company's stock worth $931,000 after purchasing an additional 211 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Cardinal Health by 23.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 16,593 shares of the company's stock valued at $1,962,000 after purchasing an additional 3,177 shares during the period. Angeles Wealth Management LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at $205,000. Finally, Essex Financial Services Inc. bought a new stake in shares of Cardinal Health during the fourth quarter valued at about $213,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on CAH. Morgan Stanley upped their price target on shares of Cardinal Health from $166.00 to $181.00 and gave the company an "overweight" rating in a report on Friday. UBS Group upped their price target on Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird raised their price objective on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Bank of America lifted their target price on Cardinal Health from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Mizuho upped their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of "Moderate Buy" and a consensus price target of $157.43.
Check Out Our Latest Stock Analysis on CAH
Cardinal Health Stock Performance
Shares of Cardinal Health stock traded up $0.76 during mid-day trading on Friday, hitting $161.28. 2,722,179 shares of the stock were exchanged, compared to its average volume of 2,227,401. The company has a market capitalization of $38.49 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.49 and a beta of 0.66. The company has a 50-day simple moving average of $145.31 and a 200 day simple moving average of $132.35. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $162.91.
Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter last year, the business posted $2.08 EPS. Cardinal Health's quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.
Cardinal Health Increases Dividend
The company 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. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a yield of 1.27%. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 31.83%.
About Cardinal Health
(
Free Report)
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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