6,146 Shares in Cardinal Health, Inc. (NYSE:CAH) Bought by Inscription Capital LLC

Inscription Capital LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,146 shares of the company’s stock, valued at approximately $847,000.

A number of other institutional investors have also recently made changes to their positions in CAH. QRG Capital Management Inc. boosted its holdings in Cardinal Health by 187.0% in the first quarter. QRG Capital Management Inc. now owns 93,561 shares of the company’s stock valued at $12,890,000 after acquiring an additional 60,959 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of Cardinal Health in the 1st quarter worth approximately $233,000. Sowell Financial Services LLC bought a new stake in shares of Cardinal Health in the 1st quarter valued at $3,542,000. Brighton Jones LLC increased its position in shares of Cardinal Health by 8.2% during the first quarter. Brighton Jones LLC now owns 4,457 shares of the company’s stock worth $614,000 after buying an additional 339 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Cardinal Health during the first quarter worth $199,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.6%

Shares of NYSE:CAH opened at $162.43 on Tuesday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $162.94. The stock has a market cap of $38.77 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock’s fifty day simple moving average is $146.79 and its two-hundred day simple moving average is $133.04.

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, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm 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 represents a $2.04 dividend on an annualized basis and a dividend yield of 1.26%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. 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

A number of brokerages have commented on CAH. Bank of America upped their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, June 10th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Morgan Stanley set a $181.00 price target on Cardinal Health and gave the company an “overweight” rating in a research note on Friday. Citigroup reaffirmed a “neutral” rating and set a $170.00 price objective (up previously from $157.00) on shares of Cardinal Health in a research report on Friday. Finally, Mizuho boosted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

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.