HB Wealth Management LLC Acquires 4,135 Shares of Cardinal Health, Inc. (NYSE:CAH)
HB Wealth Management LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 65.7% in Q1, acquiring an additional 4,135 shares, bringing its total to 10,431 shares valued at $1.437 million. Other investors also raised their positions in Cardinal Health. The stock opened at $157.33, with a market cap of $37.55 billion. Cardinal Health reported a quarterly EPS of $2.35, exceeding estimates, and recently declared a quarterly dividend of $0.5107. Analysts have set new price targets, with ratings ranging from "neutral" to "outperform."
HB Wealth Management LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 65.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,431 shares of the company's stock after buying an additional 4,135 shares during the quarter. HB Wealth Management LLC's holdings in Cardinal Health were worth $1,437,000 at the end of the most recent quarter.
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A number of other large investors have also recently made changes to their positions in CAH. Principal Financial Group Inc. boosted its position in shares of Cardinal Health by 5.3% during the first quarter. Principal Financial Group Inc. now owns 315,817 shares of the company's stock valued at $43,510,000 after purchasing an additional 15,956 shares in the last quarter. Huntington National Bank boosted its holdings in Cardinal Health by 1.2% in the fourth quarter. Huntington National Bank now owns 10,920 shares of the company's stock worth $1,292,000 after acquiring an additional 128 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in Cardinal Health by 17.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 3,119 shares of the company's stock worth $429,000 after acquiring an additional 457 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Cardinal Health by 25.8% in the first quarter. Assenagon Asset Management S.A. now owns 13,147 shares of the company's stock worth $1,811,000 after acquiring an additional 2,694 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in Cardinal Health by 569.5% in the first quarter. Golden State Wealth Management LLC now owns 395 shares of the company's stock worth $54,000 after acquiring an additional 336 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.
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Cardinal Health Stock Performance
Cardinal Health stock opened at $157.33 on Wednesday. The stock has a market cap of $37.55 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68. Cardinal Health, Inc. has a one year low of $96.05 and a one year high of $168.44. The stock has a fifty day moving average of $159.53 and a 200 day moving average of $142.13.
- Medical Technology Stock Benefits from Rising Acute Care Demand
Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. Cardinal Health had a negative return on equity of 68.84% and a net margin of 0.70%. Cardinal Health's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. As a group, sell-side analysts predict 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 was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.5107 dividend. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.30%. Cardinal Health's dividend payout ratio is presently 31.83%.
Analysts Set New Price Targets
- For Cardinal Health, the Proof Will be in Its Performance
Several equities research analysts have commented on the company. Evercore ISI reissued an "outperform" rating and issued a $180.00 target price (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Citigroup reissued a "neutral" rating and issued a $170.00 target price (up from $157.00) on shares of Cardinal Health in a report on Friday, June 13th. UBS Group boosted their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company upgraded Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $136.00 to $179.00 in a research note on Tuesday, June 3rd. Finally, Robert W. Baird boosted their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $158.07.
Read Our Latest Stock Analysis on Cardinal Health
Cardinal Health Company Profile
(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.
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