Cardinal Health, Inc. (NYSE:CAH) Position Increased by Mutual Advisors LLC

Mutual Advisors LLC increased its stake in Cardinal Health, Inc. (NYSE:CAHFree Report) by 32.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,548 shares of the company’s stock after purchasing an additional 3,816 shares during the period. Mutual Advisors LLC’s holdings in Cardinal Health were worth $1,740,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CAH. Clearstead Trust LLC bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. raised its stake in Cardinal Health by 4,466.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Cardinal Health during the 4th quarter valued at $30,000. YHB Investment Advisors Inc. bought a new stake in Cardinal Health during the 1st quarter valued at $32,000. Finally, Hexagon Capital Partners LLC raised its stake in Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.9 %

Shares of NYSE CAH opened at $96.01 on Wednesday. The stock has a market capitalization of $23.39 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 1.07 and a beta of 0.61. The stock’s fifty day simple moving average is $98.91 and its 200 day simple moving average is $104.25. Cardinal Health, Inc. has a 52-week low of $85.11 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAHGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. The business had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.74 EPS. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.11%. Cardinal Health’s payout ratio is currently 89.78%.

Wall Street Analysts Forecast Growth

CAH has been the topic of several recent analyst reports. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. Evercore ISI cut their target price on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday. Wells Fargo & Company cut their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Robert W. Baird lifted their target price on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Argus lowered their price target on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

Check Out Our Latest Stock Analysis on CAH

About Cardinal Health

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CAH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cardinal Health, Inc. (NYSE:CAHFree Report).

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

Receive News & Ratings for Cardinal Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cardinal Health and related companies with MarketBeat.com's FREE daily email newsletter.