True Link Financial Advisors LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

True Link Financial Advisors LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,227 shares of the company’s stock, valued at approximately $307,000.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Cardinal Health during the 4th quarter valued at about $246,748,000. Marshall Wace LLP increased its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after buying an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Cardinal Health in the fourth quarter worth approximately $141,963,000. GAMMA Investing LLC lifted its holdings in Cardinal Health by 17,589.1% during the first quarter. GAMMA Investing LLC now owns 964,941 shares of the company’s stock worth $132,940,000 after buying an additional 959,486 shares during the period. Finally, Junto Capital Management LP bought a new stake in Cardinal Health during the 4th quarter valued at $92,811,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $165.51 on Friday. The business’s 50 day moving average price is $148.90 and its 200 day moving average price is $133.78. The company has a market cap of $39.50 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.85 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $166.03.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The firm had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.23%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 31.51%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CAH shares. Wells Fargo & Company upgraded shares of Cardinal Health from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. UBS Group raised their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, May 5th. Robert W. Baird increased their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Mizuho boosted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Three investment 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’s stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

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.