SevenBridge Financial Group LLC Purchases New Stake in Cardinal Health, Inc. (NYSE:CAH)

SevenBridge Financial Group LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,800 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpha Cubed Investments LLC bought a new position in Cardinal Health during the 3rd quarter valued at approximately $371,000. Murphy Pohlad Asset Management LLC bought a new stake in Cardinal Health during the second quarter valued at approximately $1,208,000. Cetera Investment Advisers increased its holdings in Cardinal Health by 62.7% during the first quarter. Cetera Investment Advisers now owns 115,755 shares of the company’s stock valued at $12,953,000 after buying an additional 44,615 shares during the last quarter. Fiera Capital Corp bought a new position in Cardinal Health in the third quarter worth approximately $507,000. Finally, GSA Capital Partners LLP raised its position in Cardinal Health by 87.2% in the third quarter. GSA Capital Partners LLP now owns 25,506 shares of the company’s stock worth $2,819,000 after acquiring an additional 11,883 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Down 1.3 %

Shares of NYSE:CAH opened at $121.84 on Monday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The firm has a fifty day simple moving average of $113.90 and a two-hundred day simple moving average of $105.96. The stock has a market capitalization of $29.49 billion, a P/E ratio of 23.70, a PEG ratio of 1.54 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.73 earnings per share. On average, analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAH shares. Morgan Stanley raised their target price on Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Argus raised their price objective on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Robert W. Baird lifted their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.00.

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.