Machina Capital S.A.S. Acquires Shares of 7,161 Cardinal Health, Inc. (NYSE:CAH)

Machina Capital S.A.S. acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,161 shares of the company’s stock, valued at approximately $722,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Cardinal Health by 9.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock valued at $7,301,000 after acquiring an additional 7,174 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Cardinal Health by 5.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 37,173 shares of the company’s stock worth $3,227,000 after purchasing an additional 2,024 shares during the period. Raymond James & Associates raised its position in Cardinal Health by 3.8% in the 3rd quarter. Raymond James & Associates now owns 255,118 shares of the company’s stock worth $22,149,000 after purchasing an additional 9,277 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Cardinal Health by 13.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 99,296 shares of the company’s stock worth $8,621,000 after purchasing an additional 11,451 shares during the period. Finally, Independent Advisor Alliance raised its position in Cardinal Health by 11.9% in the 3rd quarter. Independent Advisor Alliance now owns 13,042 shares of the company’s stock worth $1,132,000 after purchasing an additional 1,384 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH traded up $1.13 during trading on Tuesday, hitting $99.72. The stock had a trading volume of 2,274,525 shares, compared to its average volume of 2,284,011. The company has a market capitalization of $24.29 billion, a PE ratio of 43.82, a PEG ratio of 1.01 and a beta of 0.71. Cardinal Health, Inc. has a twelve month low of $80.90 and a twelve month high of $116.04. The stock has a 50 day simple moving average of $108.86 and a two-hundred day simple moving average of $105.21.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The firm had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter last year, the company posted $1.74 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.34 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.5056 per share. 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 (DPR) is 88.89%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective on the stock. UBS Group raised their target price on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Robert W. Baird reduced their target price on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their target price on shares of Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, April 29th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $105.79.

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.