Promus Capital LLC Buys New Holdings in Cardinal Health, Inc. (NYSE:CAH)

Promus Capital LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 257 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in shares of Cardinal Health by 4.9% during the third quarter. Van ECK Associates Corp now owns 31,996 shares of the company’s stock worth $3,581,000 after acquiring an additional 1,507 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Cardinal Health by 83.3% in the 3rd quarter. QRG Capital Management Inc. now owns 30,135 shares of the company’s stock worth $3,331,000 after purchasing an additional 13,697 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Cardinal Health by 4.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 6,114 shares of the company’s stock valued at $676,000 after purchasing an additional 269 shares during the last quarter. Radnor Capital Management LLC grew its position in shares of Cardinal Health by 14.2% during the third quarter. Radnor Capital Management LLC now owns 2,409 shares of the company’s stock valued at $266,000 after purchasing an additional 299 shares in the last quarter. Finally, Graypoint LLC increased its holdings in shares of Cardinal Health by 6.9% in the third quarter. Graypoint LLC now owns 2,380 shares of the company’s stock worth $263,000 after purchasing an additional 154 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 0.6 %

Shares of Cardinal Health stock opened at $126.72 on Friday. The stock’s fifty day moving average is $125.28 and its two-hundred day moving average is $118.57. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The company has a market capitalization of $30.61 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of research reports. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Citigroup increased their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Morgan Stanley boosted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Argus set a $148.00 price objective on shares of Cardinal Health in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.36.

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.