Cardinal Health, Inc. (NYSE:CAH) Position Increased by Latitude Advisors LLC

Latitude Advisors LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,512 shares of the company’s stock after purchasing an additional 146 shares during the period. Latitude Advisors LLC’s holdings in Cardinal Health were worth $253,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Panagora Asset Management Inc. increased its position in Cardinal Health by 53.6% in the 1st quarter. Panagora Asset Management Inc. now owns 25,616 shares of the company’s stock valued at $1,452,000 after acquiring an additional 8,935 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Cardinal Health by 4.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,071 shares of the company’s stock valued at $2,102,000 after acquiring an additional 1,702 shares during the period. Cibc World Market Inc. acquired a new stake in Cardinal Health in the 1st quarter valued at approximately $212,000. Blair William & Co. IL increased its position in Cardinal Health by 6.7% in the 1st quarter. Blair William & Co. IL now owns 11,769 shares of the company’s stock valued at $667,000 after acquiring an additional 734 shares during the period. Finally, Sei Investments Co. increased its position in Cardinal Health by 6.4% in the 1st quarter. Sei Investments Co. now owns 472,799 shares of the company’s stock valued at $26,792,000 after acquiring an additional 28,568 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH traded up $0.14 during trading hours on Wednesday, hitting $107.17. 1,515,804 shares of the company were exchanged, compared to its average volume of 1,578,602. The company has a market capitalization of $26.07 billion, a PE ratio of 42.20, a PEG ratio of 1.03 and a beta of 0.68. The firm has a fifty day simple moving average of $109.45 and a 200-day simple moving average of $104.00. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $1.32 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 annualized dividend and a yield of 1.87%. Cardinal Health’s dividend payout ratio (DPR) is currently 78.74%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CAH shares. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Barclays assumed coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. Finally, SVB Leerink assumed coverage on Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $103.07.

About Cardinal Health

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.