Triasima Portfolio Management inc. Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Triasima Portfolio Management inc. acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,010 shares of the company’s stock, valued at approximately $908,000.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC acquired a new position in Cardinal Health during the 3rd quarter worth $26,000. BKM Wealth Management LLC acquired a new position in Cardinal Health during the 4th quarter worth $30,000. Stonebridge Capital Advisors LLC acquired a new position in Cardinal Health during the 2nd quarter worth $29,000. Retirement Group LLC lifted its holdings in Cardinal Health by 1,539.3% during the 4th quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after buying an additional 431 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in Cardinal Health during the 4th quarter worth $41,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Barclays initiated coverage on Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price target on the stock. SVB Leerink initiated coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target on the stock. UBS Group increased their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.07.

Cardinal Health Stock Down 1.2 %

Cardinal Health stock traded down $1.32 during mid-day trading on Friday, hitting $105.10. 1,535,419 shares of the company’s stock were exchanged, compared to its average volume of 1,807,148. The firm has a market capitalization of $25.56 billion, a P/E ratio of 41.38, a PEG ratio of 1.01 and a beta of 0.68. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04. The company’s 50 day simple moving average is $109.32 and its 200-day simple moving average is $103.61.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.32 EPS. Research analysts expect that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

About Cardinal Health

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.