Machina Capital S.A.S. Makes New $722,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Machina Capital S.A.S. purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,161 shares of the company’s stock, valued at approximately $722,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Clearstead Trust LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth about $25,000. Cornerstone Planning Group LLC purchased a new position in shares of Cardinal Health in the 3rd quarter worth about $26,000. BKM Wealth Management LLC purchased a new position in shares of Cardinal Health in the 4th quarter worth about $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Cardinal Health in the 4th quarter worth about $36,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CAH shares. Evercore ISI raised their price objective on Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a report on Friday. Robert W. Baird cut their price objective on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday. SVB Leerink assumed coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, Wells Fargo & Company dropped their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $105.79.

Cardinal Health Stock Up 1.1 %

Shares of CAH traded up $1.13 during mid-day trading on Tuesday, hitting $99.72. The stock had a trading volume of 2,274,525 shares, compared to its average volume of 2,284,011. The company has a market cap of $24.29 billion, a PE ratio of 43.82, a PEG ratio of 1.01 and a beta of 0.71. The company’s fifty day simple moving average is $108.86 and its two-hundred day simple moving average is $105.21. Cardinal Health, Inc. has a fifty-two week low of $80.90 and a fifty-two week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.74 EPS. Equities analysts expect that Cardinal Health, Inc. will post 7.34 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.03%. Cardinal Health’s dividend payout ratio (DPR) is presently 88.89%.

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.