Goldstone Financial Group LLC Invests $200,000 in Cardinal Health, Inc. (NYSE:CAH)

Goldstone Financial Group LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,453 shares of the company’s stock, valued at approximately $200,000.

Several other large investors also recently modified their holdings of CAH. Cyrus J. Lawrence LLC acquired a new stake in Cardinal Health in the fourth quarter worth $26,000. Promus Capital LLC acquired a new stake in Cardinal Health in the fourth quarter worth $30,000. Bellwether Advisors LLC acquired a new stake in Cardinal Health in the fourth quarter worth $32,000. Tompkins Financial Corp grew its holdings in Cardinal Health by 106.7% in the first quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock worth $34,000 after purchasing an additional 128 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new stake in Cardinal Health in the fourth quarter worth $35,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

CAH opened at $161.28 on Friday. The company’s 50-day moving average is $146.04 and its 200 day moving average is $132.69. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $162.94. The firm has a market capitalization of $38.49 billion, a P/E ratio of 30.09, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $55.33 billion. During the same period last year, the firm earned $2.08 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

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

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research reports. Evercore ISI raised their price target on shares of Cardinal Health from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $136.00 to $179.00 in a report on Tuesday, June 3rd. Mizuho raised their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Robert W. Baird raised 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. Finally, Morgan Stanley raised their price objective on shares of Cardinal Health from $166.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

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.