Bridgefront Capital LLC Has $1.58 Million Holdings in Cardinal Health, Inc. $CAH

Bridgefront Capital LLC lifted its position in Cardinal Health, Inc. (NYSE:CAH) by 39.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,032 shares of the company’s stock after acquiring an additional 2,824 shares during the quarter. Cardinal Health makes up about 0.5% of Bridgefront Capital LLC’s holdings, making the stock its 27th biggest holding. Bridgefront Capital LLC’s holdings in Cardinal Health were worth $1,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Cardinal Health by 0.8% in the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock valued at $4,838,054,000 after purchasing an additional 247,667 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Cardinal Health by 153.2% during the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after buying an additional 3,511,579 shares in the last quarter. Bank of America Corp DE raised its position in Cardinal Health by 3.2% during the third quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock valued at $563,922,000 after buying an additional 111,582 shares during the period. Invesco Ltd. lifted its stake in Cardinal Health by 14.7% in the 3rd quarter. Invesco Ltd. now owns 3,483,207 shares of the company’s stock worth $546,724,000 after acquiring an additional 445,425 shares in the last quarter. Finally, Norges Bank acquired a new stake in Cardinal Health during the 2nd quarter worth about $584,420,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CAH. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Evercore raised their price target on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Mizuho boosted their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Leerink Partners reiterated an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research report on Monday, March 9th. Finally, Wells Fargo & Company lifted their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Stock Performance

Shares of CAH opened at $216.95 on Friday. The firm has a market cap of $51.05 billion, a PE ratio of 31.22, a PEG ratio of 1.40 and a beta of 0.65. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60. The firm’s 50 day moving average price is $216.83 and its 200 day moving average price is $192.20.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.93 EPS. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.