CoreCap Advisors LLC Grows Position in Cardinal Health, Inc. (NYSE:CAH)

CoreCap Advisors LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,785 shares of the company’s stock after buying an additional 1,093 shares during the quarter. CoreCap Advisors LLC’s holdings in Cardinal Health were worth $3,050,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Select Advisors LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at about $1,426,000. Crestline Management LP bought a new position in Cardinal Health during the 4th quarter valued at approximately $4,123,000. Cetera Investment Advisers lifted its holdings in Cardinal Health by 1.4% in the 4th quarter. Cetera Investment Advisers now owns 103,688 shares of the company’s stock worth $12,263,000 after buying an additional 1,443 shares during the period. BOKF NA grew its position in shares of Cardinal Health by 0.5% in the 4th quarter. BOKF NA now owns 146,863 shares of the company’s stock worth $17,854,000 after buying an additional 755 shares during the last quarter. Finally, Bridgefront Capital LLC increased its stake in shares of Cardinal Health by 113.9% during the fourth quarter. Bridgefront Capital LLC now owns 12,200 shares of the company’s stock valued at $1,443,000 after buying an additional 6,496 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

CAH opened at $153.68 on Thursday. The firm has a market cap of $36.68 billion, a PE ratio of 28.67, a P/E/G ratio of 1.49 and a beta of 0.66. The stock has a 50-day moving average price of $133.84 and a 200-day moving average price of $125.81. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $153.74.

Cardinal Health (NYSE:CAH) last issued its 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 business had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.5107 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.33%. Cardinal Health’s payout ratio is 31.51%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a report on Monday. Robert W. Baird lifted their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Four investment 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’s stock. Based on data from MarketBeat.com, Cardinal Health 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.