RFG Advisory LLC Raises Holdings in Cardinal Health, Inc. (NYSE:CAH)

RFG Advisory LLC increased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 54.3% in the 1st quarter, HoldingsChannel reports. The fund owned 3,055 shares of the company’s stock after purchasing an additional 1,075 shares during the quarter. RFG Advisory LLC’s holdings in Cardinal Health were worth $421,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC purchased a new position in Cardinal Health in the fourth quarter worth approximately $26,000. Tompkins Financial Corp lifted its stake in Cardinal Health by 106.7% during the first quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock worth $34,000 after purchasing an additional 128 shares in the last quarter. Promus Capital LLC acquired a new position in Cardinal Health during the fourth quarter worth $30,000. Bellwether Advisors LLC acquired a new position in Cardinal Health during the fourth quarter worth $32,000. Finally, Lee Danner & Bass Inc. acquired a new position in Cardinal Health during the fourth quarter worth $35,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.4%

NYSE:CAH opened at $154.68 on Friday. The firm has a market cap of $36.92 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock has a fifty day moving average price of $143.52 and a 200 day moving average price of $131.43. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $157.82.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $55.33 billion. During the same period last year, the business posted $2.08 earnings per share. Cardinal Health’s revenue was up .0% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared 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 is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.83%.

Analysts Set New Price Targets

CAH has been the topic of a number of research reports. Wells Fargo & Company upgraded Cardinal Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $136.00 to $179.00 in a research note on Tuesday. Robert W. Baird upped their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Morgan Stanley upped their price target on Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, UBS Group upped their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

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.