Bellwether Advisors LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Bellwether Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 62,399 shares of the company's stock, valued at approximately $6,290,000. Cardinal Health accounts for approximately 1.5% of Bellwether Advisors LLC's investment portfolio, making the stock its 17th biggest position.

Several other hedge funds have also added to or reduced their stakes in the stock. Cornerstone Planning Group LLC purchased a new position in shares of Cardinal Health in the third quarter worth about $26,000. Covestor Ltd grew its position in Cardinal Health by 59.8% during the second quarter. Covestor Ltd now owns 294 shares of the company's stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $29,000. BKM Wealth Management LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $30,000. Finally, Retirement Group LLC grew its position in Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company's stock worth $35,000 after acquiring an additional 431 shares during the last quarter. Institutional investors own 86.01% of the company's stock.

Cardinal Health Trading Up 0.6 %

Shares of NYSE:CAH traded up $0.64 during midday trading on Thursday, reaching $112.53. 2,084,915 shares of the company were exchanged, compared to its average volume of 2,488,954. The stock has a market cap of $27.37 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 1.09 and a beta of 0.68. The business's fifty day moving average is $107.79 and its two-hundred day moving average is $101.02. Cardinal Health, Inc. has a one year low of $68.53 and a one year high of $116.04.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.26. The company had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.32 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.29 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a $0.5006 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.78%. Cardinal Health's dividend payout ratio (DPR) is presently 78.74%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays began coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 target price on the stock. SVB Leerink started coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an "outperform" rating and a $125.00 price target on the stock. Wells Fargo & Company assumed coverage on Cardinal Health in a research report on Thursday, December 14th. They set an "underweight" rating and a $96.00 price objective on the stock. TheStreet lowered Cardinal Health from a "b-" rating to a "c+" rating in a research report on Wednesday, December 27th. Finally, Argus raised Cardinal Health from a "hold" rating to a "buy" rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $103.07.

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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