Cambridge Financial Group Inc. Invests $9.15 Million in Cardinal Health, Inc. (NYSE:CAH)

Cambridge Financial Group Inc. purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 77,366 shares of the company’s stock, valued at approximately $9,150,000. Cardinal Health accounts for approximately 3.8% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 5th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Rothschild Investment LLC raised its stake in Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares in the last quarter. Private Trust Co. NA raised its position in shares of Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after buying an additional 92 shares in the last quarter. Checchi Capital Advisers LLC grew its position in Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after buying an additional 93 shares in the last quarter. TIAA Trust National Association increased its stake in Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after acquiring an additional 94 shares during the period. Finally, MWA Asset Management raised its holdings in Cardinal Health by 2.9% in the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $136.43 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $137.18. The company’s 50 day moving average price is $128.36 and its two-hundred day moving average price is $120.76. The firm has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley raised their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup upped their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Wells Fargo & Company upped their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

About Cardinal Health

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.