Cambridge Financial Group Inc. Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Cambridge Financial Group Inc. bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 77,366 shares of the company’s stock, valued at approximately $9,150,000. Cardinal Health accounts for about 3.8% of Cambridge Financial Group Inc.’s holdings, making the stock its 5th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after buying an additional 42,082 shares during the last quarter. Amundi grew its position in shares of Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after buying an additional 110,605 shares during the period. Norges Bank bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $246,748,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cardinal Health by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after acquiring an additional 44,386 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of analyst reports. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Price Performance

Shares of CAH stock opened at $136.43 on Friday. The company has a fifty day moving average price of $128.36 and a two-hundred day moving average price of $120.76. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $137.18. The stock has a market cap of $32.96 billion, a P/E ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66.

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 the consensus estimate 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, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.