CreativeOne Wealth LLC Acquires New Shares in Cardinal Health, Inc. (NYSE:CAH)

CreativeOne Wealth LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,763 shares of the company’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Delap Wealth Advisory LLC bought a new position in Cardinal Health in the first quarter worth about $328,000. EntryPoint Capital LLC bought a new position in Cardinal Health in the first quarter worth about $93,000. Vident Advisory LLC raised its holdings in Cardinal Health by 2,901.4% in the first quarter. Vident Advisory LLC now owns 146,977 shares of the company’s stock worth $16,447,000 after purchasing an additional 142,080 shares in the last quarter. Shell Asset Management Co. raised its holdings in Cardinal Health by 65.1% in the first quarter. Shell Asset Management Co. now owns 16,234 shares of the company’s stock worth $1,817,000 after purchasing an additional 6,404 shares in the last quarter. Finally, Natixis raised its holdings in Cardinal Health by 147.1% in the first quarter. Natixis now owns 38,130 shares of the company’s stock worth $4,267,000 after purchasing an additional 22,700 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Price Performance

NYSE:CAH traded up $1.44 during trading hours on Friday, reaching $98.35. The company had a trading volume of 1,383,461 shares, compared to its average volume of 1,795,193. Cardinal Health, Inc. has a 1-year low of $85.11 and a 1-year high of $116.04. The firm has a market cap of $23.96 billion, a PE ratio of 43.72, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61. The business’s 50 day moving average price is $98.02 and its 200-day moving average price is $103.59.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.74 earnings per share. On average, analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, July 1st. Cardinal Health’s dividend payout ratio is presently 89.78%.

Analyst Ratings Changes

A number of equities analysts have commented on CAH shares. Argus reduced their target price on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Evercore ISI dropped their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company dropped their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, April 29th. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 22nd. Finally, Citigroup dropped their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating on the stock in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

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.