Transform Wealth LLC Buys 7,591 Shares of Cardinal Health, Inc. (NYSE:CAH)

Transform Wealth LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 75.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,715 shares of the company’s stock after buying an additional 7,591 shares during the quarter. Transform Wealth LLC’s holdings in Cardinal Health were worth $2,441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. grew its stake in shares of Cardinal Health by 49.2% during the first quarter. Redhawk Wealth Advisors Inc. now owns 9,518 shares of the company’s stock worth $1,311,000 after buying an additional 3,140 shares during the last quarter. CX Institutional grew its stake in shares of Cardinal Health by 20.7% during the first quarter. CX Institutional now owns 2,722 shares of the company’s stock worth $375,000 after buying an additional 466 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Cardinal Health by 25.8% during the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company’s stock worth $1,811,000 after buying an additional 2,694 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Cardinal Health by 4.8% during the first quarter. Handelsbanken Fonder AB now owns 41,708 shares of the company’s stock worth $5,746,000 after buying an additional 1,925 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Cardinal Health by 33.7% during the first quarter. SG Americas Securities LLC now owns 183,542 shares of the company’s stock worth $25,287,000 after purchasing an additional 46,230 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.4%

Shares of NYSE CAH opened at $153.07 on Wednesday. The firm’s 50-day moving average price is $144.14 and its 200-day moving average price is $131.94. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $157.82. The firm has a market capitalization of $36.54 billion, a P/E ratio of 28.56, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, May 1st. The company reported $2.35 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 the consensus estimate of $55.33 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed 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 represents a $2.04 dividend on an annualized basis and a yield of 1.33%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s dividend payout ratio is presently 31.83%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Bank of America boosted their price objective on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup reissued a “neutral” rating on shares of Cardinal Health in a research note on Thursday, May 1st. Robert W. Baird boosted their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Mizuho boosted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.57.

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.