CX Institutional Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

CX Institutional raised its position in Cardinal Health, Inc. (NYSE:CAH) by 20.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,722 shares of the company’s stock after buying an additional 466 shares during the period. CX Institutional’s holdings in Cardinal Health were worth $375,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAH. Norges Bank purchased a new stake in Cardinal Health in the 4th quarter valued at about $246,748,000. Marshall Wace LLP raised its holdings in shares of Cardinal Health by 154.6% in the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $141,963,000. GAMMA Investing LLC raised its holdings in shares of Cardinal Health by 17,589.1% in the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company’s stock worth $132,940,000 after purchasing an additional 959,486 shares during the period. Finally, Junto Capital Management LP bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $92,811,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CAH shares. Robert W. Baird lifted their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Bank of America lifted their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company raised shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Evercore ISI boosted their target price on shares of Cardinal Health from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Cardinal Health from $166.00 to $181.00 and gave the company an “overweight” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Cardinal Health Price Performance

CAH opened at $161.28 on Friday. The company has a fifty day moving average price of $146.04 and a 200-day moving average price of $132.62. The firm has a market capitalization of $38.49 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $162.94.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a yield of 1.27%. Cardinal Health’s payout ratio is 31.83%.

Cardinal Health Company 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.