Brooklyn Investment Group Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Brooklyn Investment Group bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 632 shares of the company’s stock, valued at approximately $70,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Cardinal Health in the third quarter valued at $25,000. Frazier Financial Advisors LLC grew its position in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new position in Cardinal Health during the 2nd quarter worth approximately $27,000. Hara Capital LLC purchased a new position in shares of Cardinal Health during the 3rd quarter valued at $31,000. Finally, LRI Investments LLC acquired a new position in shares of Cardinal Health in the first quarter worth $32,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.2 %

Shares of CAH stock opened at $122.63 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.14. The firm’s fifty day moving average price is $114.51 and its two-hundred day moving average price is $106.41. The firm has a market capitalization of $29.68 billion, a P/E ratio of 23.86, a PEG ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS 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. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.65%. Cardinal Health’s dividend payout ratio is 39.30%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAH. Mizuho upped their price target on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Morgan Stanley increased their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Argus upped their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Finally, Evercore ISI upped their price target on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Company 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.