Gateway Wealth Partners LLC Boosts Stake in Cardinal Health, Inc. $CAH

Gateway Wealth Partners LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 174.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,638 shares of the company’s stock after acquiring an additional 2,312 shares during the period. Gateway Wealth Partners LLC’s holdings in Cardinal Health were worth $769,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in Cardinal Health during the fourth quarter worth approximately $26,000. Bank of Jackson Hole Trust purchased a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $27,000. Jones Financial Companies Lllp raised its stake in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares during the period. Palladiem LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth approximately $28,000. Finally, Indiana Trust & Investment Management Co purchased a new position in shares of Cardinal Health during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CAH shares. Zacks Research lowered shares of Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Citigroup increased their price objective on shares of Cardinal Health from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, July 24th. Morgan Stanley lifted their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. TD Cowen boosted their target price on shares of Cardinal Health from $255.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Finally, Wells Fargo & Company reduced their price target on shares of Cardinal Health from $256.00 to $245.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $251.73.

Cardinal Health Stock Performance

Shares of CAH stock opened at $229.37 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $243.21. The stock’s fifty day moving average is $221.82 and its two-hundred day moving average is $215.01. The firm has a market capitalization of $53.72 billion, a P/E ratio of 35.07, a PEG ratio of 1.14 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.38. The business had revenue of $60.94 billion during the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.35 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.5158 per share. The ex-dividend date was Wednesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 31.50%.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.