Transform Wealth LLC Raises Holdings in Cardinal Health, Inc. (NYSE:CAH)

Transform Wealth LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,659 shares of the company’s stock after buying an additional 685 shares during the quarter. Transform Wealth LLC’s holdings in Cardinal Health were worth $2,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter valued at about $209,000. Mather Group LLC. increased its position in shares of Cardinal Health by 2.5% during the fourth quarter. Mather Group LLC. now owns 6,678 shares of the company’s stock worth $673,000 after acquiring an additional 164 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Cardinal Health by 86.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 69,423 shares of the company’s stock worth $6,998,000 after acquiring an additional 32,250 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Cardinal Health by 50.5% during the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after acquiring an additional 61,933 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of Cardinal Health by 15.9% during the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after acquiring an additional 38,769 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company dropped their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Robert W. Baird decreased their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Evercore ISI lifted their price target on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research note on Friday, May 3rd. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, Argus decreased their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $109.67.

Cardinal Health Trading Up 0.2 %

NYSE:CAH traded up $0.20 during midday trading on Friday, hitting $99.82. 486,070 shares of the stock were exchanged, compared to its average volume of 2,190,926. Cardinal Health, Inc. has a one year low of $85.11 and a one year high of $116.04. The company has a market capitalization of $24.31 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 1.15 and a beta of 0.64. The business has a 50-day moving average price of $100.08 and a two-hundred day moving average price of $104.59.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. The firm had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.74 earnings per share. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.03%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio is currently 88.89%.

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.