AlphaStar Capital Management LLC Acquires New Position in Cardinal Health, Inc. (NYSE:CAH)

AlphaStar Capital Management LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,539 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors also recently modified their holdings of CAH. Stratos Wealth Partners LTD. increased its stake in Cardinal Health by 25.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 7,588 shares of the company’s stock worth $1,046,000 after purchasing an additional 1,519 shares during the period. Brown Advisory Inc. increased its stake in Cardinal Health by 3.1% in the 1st quarter. Brown Advisory Inc. now owns 174,862 shares of the company’s stock worth $24,091,000 after purchasing an additional 5,229 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in Cardinal Health by 59.4% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 5,959 shares of the company’s stock worth $821,000 after purchasing an additional 2,221 shares during the period. Raleigh Capital Management Inc. increased its stake in Cardinal Health by 121.8% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,029 shares of the company’s stock worth $142,000 after purchasing an additional 565 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Cardinal Health by 4.3% in the 1st quarter. TD Private Client Wealth LLC now owns 15,967 shares of the company’s stock worth $2,200,000 after purchasing an additional 657 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAH. Citigroup reaffirmed a “neutral” rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research note on Friday, June 13th. Morgan Stanley set a $181.00 target price on Cardinal Health and gave the company an “overweight” rating in a research note on Friday, June 13th. Evercore ISI reissued an “outperform” rating and set a $180.00 target price (up from $175.00) on shares of Cardinal Health in a research note on Thursday, June 12th. Wells Fargo & Company raised Cardinal Health from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Finally, Mizuho boosted their target price on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Cardinal Health Trading Down 1.9%

Cardinal Health stock opened at $164.43 on Wednesday. The business’s fifty day simple moving average is $156.66 and its two-hundred day simple moving average is $137.98. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $168.44. The company has a market capitalization of $39.25 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 1.66 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last released 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 negative return on equity of 68.84% and a net margin of 0.70%. The business had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is an increase 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 1.24%. The ex-dividend date is Tuesday, July 1st. Cardinal Health’s dividend payout ratio is presently 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.