Simplicity Solutions LLC Boosts Stake in Cardinal Health, Inc. (NYSE:CAH)

Simplicity Solutions LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 74.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,768 shares of the company’s stock after purchasing an additional 2,887 shares during the period. Simplicity Solutions LLC’s holdings in Cardinal Health were worth $682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new stake in Cardinal Health during the 4th quarter valued at approximately $30,000. Retirement Group LLC raised its stake in Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after acquiring an additional 431 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Cardinal Health during the 4th quarter valued at approximately $41,000. Finally, Headlands Technologies LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at approximately $47,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

CAH opened at $106.52 on Thursday. The stock has a market cap of $25.91 billion, a P/E ratio of 41.94, a P/E/G ratio of 1.03 and a beta of 0.68. The stock’s 50 day simple moving average is $109.46 and its 200 day simple moving average is $104.02. Cardinal Health, Inc. has a 1-year low of $77.56 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.32 EPS. Research analysts expect that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.88%. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

Analysts Set New Price Targets

Several analysts have commented on CAH shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. UBS Group increased their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.07.

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.