LRI Investments LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

LRI Investments LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, Holdings Channel.com reports. The fund acquired 286 shares of the company’s stock, valued at approximately $32,000.

Several other large investors also recently modified their holdings of CAH. Norges Bank acquired a new position in Cardinal Health during the 4th quarter worth approximately $258,499,000. California Public Employees Retirement System lifted its stake in shares of Cardinal Health by 118.9% in the 4th quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock valued at $152,816,000 after acquiring an additional 823,520 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Cardinal Health during the 1st quarter worth $56,454,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after purchasing an additional 477,682 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAH. Wells Fargo & Company reduced their price objective on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. Evercore ISI cut their price objective on shares of Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Robert W. Baird lifted their price target on Cardinal Health from $129.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Citigroup reduced their price target on shares of Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Finally, Argus lowered their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Price Performance

NYSE CAH opened at $101.61 on Friday. The company’s 50 day simple moving average is $98.44 and its two-hundred day simple moving average is $103.45. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04. The stock has a market capitalization of $24.75 billion, a PE ratio of 45.16, a P/E/G ratio of 1.14 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The company had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same quarter last year, the company earned $1.74 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Monday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is 89.78%.

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.