Avantra Family Wealth Inc. Acquires 936 Shares of Cardinal Health, Inc. (NYSE:CAH)

Avantra Family Wealth Inc. raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 12.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,389 shares of the company’s stock after acquiring an additional 936 shares during the quarter. Cardinal Health makes up 1.1% of Avantra Family Wealth Inc.’s holdings, making the stock its 18th largest holding. Avantra Family Wealth Inc.’s holdings in Cardinal Health were worth $1,156,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CAH. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health during the 4th quarter worth $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health during the 4th quarter worth $30,000. Bellwether Advisors LLC bought a new position in shares of Cardinal Health during the 4th quarter worth $32,000. Tompkins Financial Corp grew its position in shares of Cardinal Health by 106.7% during the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock worth $34,000 after buying an additional 128 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health during the 4th quarter worth $35,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Cardinal Health stock opened at $163.08 on Friday. The stock has a 50-day moving average of $149.53 and a two-hundred day moving average of $134.12. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $166.32. The stock has a market cap of $38.92 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.82 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 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. The company had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same period last year, the business posted $2.08 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS 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. 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 1.25%. Cardinal Health’s dividend payout ratio (DPR) is 31.51%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised Cardinal Health from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $136.00 to $179.00 in a research report on Tuesday, June 3rd. Evercore ISI reissued an “outperform” rating and set a $180.00 price target (up previously from $175.00) on shares of Cardinal Health in a research report on Thursday, June 12th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. UBS Group raised their price objective on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Mizuho raised their price objective on 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average 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.