Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC grew its holdings in Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,777 shares of the company’s stock after acquiring an additional 304 shares during the quarter. Empirical Finance LLC’s holdings in Cardinal Health were worth $587,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Delta Asset Management LLC TN acquired a new stake in Cardinal Health in the fourth quarter worth about $25,000. SJS Investment Consulting Inc. boosted its holdings in Cardinal Health by 888.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock worth $27,000 after acquiring an additional 311 shares in the last quarter. Retirement Group LLC boosted its holdings in Cardinal Health by 1,539.3% in the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after acquiring an additional 431 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Cardinal Health in the fourth quarter worth about $36,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new stake in Cardinal Health in the fourth quarter worth about $40,000. Institutional investors and hedge funds own 85.40% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $91.25 on Tuesday. The stock has a market capitalization of $23.23 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 1.21 and a beta of 0.76. Cardinal Health, Inc. has a 12 month low of $50.40 and a 12 month high of $91.27. The business has a 50-day simple moving average of $83.69 and a 200-day simple moving average of $79.08.

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Cardinal Health (NYSE:CAH – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. The business had revenue of $50.50 billion during the quarter, compared to analysts’ expectations of $49.63 billion. Cardinal Health has a negative return on equity of 81.55% and a net margin of 0.23%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.45 earnings per share. On average, equity research analysts anticipate that Cardinal Health, Inc. will post 5.71 EPS for the current fiscal year.

Cardinal Health Increases Dividends

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be given a $0.5006 dividend. The ex-dividend date is Friday, June 30th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.19%. Cardinal Health’s payout ratio is 113.79%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore ISI raised their price objective on Cardinal Health from $90.00 to $95.00 in a research note on Friday, June 9th. StockNews.com assumed coverage on Cardinal Health in a research note on Thursday, May 18th. They issued a “strong-buy” rating for the company. Citigroup raised their price objective on Cardinal Health from $88.00 to $90.00 in a research note on Monday, June 12th. Robert W. Baird raised their price objective on Cardinal Health from $97.00 to $103.00 in a research note on Friday, June 9th. Finally, TheStreet upgraded Cardinal Health from a “d+” rating to a “b-” rating in a research note on Thursday, May 4th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $88.79.

About Cardinal Health

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Cardinal Health, Inc operates as an integrated 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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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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