Truvestments Capital LLC Has $1.34 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Truvestments Capital LLC grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,128 shares of the company’s stock after buying an additional 2,186 shares during the period. Truvestments Capital LLC’s holdings in Cardinal Health were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CAH. Eastern Bank bought a new stake in Cardinal Health during the 3rd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in Cardinal Health in the second quarter valued at $27,000. Frazier Financial Advisors LLC lifted its stake in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Cardinal Health in the second quarter valued at approximately $29,000. Finally, Hara Capital LLC bought a new position in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAH. Wells Fargo & Company increased their price target on Cardinal Health from $95.00 to $101.00 and gave the company an “underweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 21st. Robert W. Baird upped their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Barclays raised their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Evercore ISI upped their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Performance

CAH opened at $121.84 on Monday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.14. The firm has a market cap of $29.49 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. The business’s fifty day moving average is $113.90 and its 200-day moving average is $105.96.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.73 earnings per share. On average, research analysts predict that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Cardinal Health 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.