Iron Triangle Partners LP Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Iron Triangle Partners LP bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, Holdings Channel.com reports. The fund bought 186,002 shares of the company’s stock, valued at approximately $21,998,000. Cardinal Health comprises 2.4% of Iron Triangle Partners LP’s holdings, making the stock its 19th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Cyrus J. Lawrence LLC acquired a new stake in Cardinal Health during the 4th quarter worth $26,000. Promus Capital LLC purchased a new stake in shares of Cardinal Health during the 4th quarter valued at approximately $30,000. Bellwether Advisors LLC acquired a new position in Cardinal Health in the fourth quarter valued at approximately $32,000. Lee Danner & Bass Inc. acquired a new stake in Cardinal Health during the fourth quarter worth $35,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of a number of recent analyst reports. Robert W. Baird upped their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Argus set a $148.00 target price on Cardinal Health in a research report on Tuesday, February 4th. UBS Group raised their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Finally, Wells Fargo & Company raised their target price on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

Cardinal Health Stock Up 0.7 %

Shares of CAH opened at $148.36 on Friday. The stock has a 50 day moving average price of $134.65 and a 200 day moving average price of $126.40. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $154.07. The company has a market capitalization of $35.41 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data 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 negative return on equity of 59.57% and a net margin of 0.59%. The company had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. The ex-dividend date is Tuesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.51%.

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.