Cambridge Financial Group Inc. Trims Position in Cardinal Health, Inc. (NYSE:CAH)

Cambridge Financial Group Inc. cut its position in shares of Cardinal Health, Inc. (NYSE:CAHGet Rating) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,529 shares of the company’s stock after selling 7,885 shares during the quarter. Cardinal Health accounts for 3.3% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Cambridge Financial Group Inc.’s holdings in Cardinal Health were worth $7,344,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allegheny Financial Group LTD purchased a new stake in Cardinal Health during the fourth quarter valued at about $27,000. Cornerstone Advisory LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $35,000. MBM Wealth Consultants LLC grew its stake in Cardinal Health by 95.4% during the 4th quarter. MBM Wealth Consultants LLC now owns 1,014 shares of the company’s stock valued at $52,000 after acquiring an additional 495 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Cardinal Health by 26.8% in the 1st quarter. Signaturefd LLC now owns 955 shares of the company’s stock valued at $54,000 after purchasing an additional 202 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in shares of Cardinal Health in the first quarter worth approximately $57,000. Hedge funds and other institutional investors own 84.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CAH. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Friday, May 6th. TheStreet cut shares of Cardinal Health from a “c+” rating to a “d+” rating in a research note on Thursday, May 5th. Morgan Stanley dropped their price target on shares of Cardinal Health from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $68.00 in a research note on Wednesday, May 18th. Finally, Barclays lowered shares of Cardinal Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $70.00 to $64.00 in a report on Thursday, May 26th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.29.

Cardinal Health Price Performance

NYSE:CAH traded up $1.27 during trading hours on Friday, hitting $61.51. The company’s stock had a trading volume of 1,947,226 shares, compared to its average volume of 2,288,745. The stock has a fifty day simple moving average of $54.69 and a 200-day simple moving average of $55.60. The company has a market capitalization of $16.76 billion, a P/E ratio of 9.38, a PEG ratio of 8.22 and a beta of 0.86. Cardinal Health, Inc. has a twelve month low of $45.85 and a twelve month high of $64.53. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.54.

Cardinal Health (NYSE:CAHGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.09). The business had revenue of $44.84 billion for the quarter, compared to the consensus estimate of $43.20 billion. Cardinal Health had a negative net margin of 0.54% and a positive return on equity of 155.24%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.53 EPS. On average, analysts anticipate that Cardinal Health, Inc. will post 5.18 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were paid a dividend of $0.4957 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, June 30th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.49. Cardinal Health’s payout ratio is 30.18%.

Cardinal Health Company Profile

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Cardinal Health, Inc operates as an integrated 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.

See Also

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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