Bridgefront Capital LLC Buys 2,824 Shares of Cardinal Health, Inc. $CAH

Bridgefront Capital LLC increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 39.2% in the 3rd quarter, Holdings Channel reports. The firm owned 10,032 shares of the company’s stock after purchasing an additional 2,824 shares during the period. Cardinal Health accounts for approximately 0.5% of Bridgefront Capital LLC’s holdings, making the stock its 27th biggest position. Bridgefront Capital LLC’s holdings in Cardinal Health were worth $1,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strategy Asset Managers LLC bought a new position in shares of Cardinal Health in the third quarter worth about $775,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after purchasing an additional 5,030 shares during the period. Versor Investments LP bought a new stake in Cardinal Health during the 3rd quarter valued at approximately $2,090,000. Atle Fund Management AB grew its holdings in Cardinal Health by 13.1% in the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after buying an additional 3,500 shares during the last quarter. Finally, Candriam S.C.A. increased its position in Cardinal Health by 10.8% in the 3rd quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after buying an additional 19,155 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $216.95 on Friday. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $233.60. The firm has a market capitalization of $51.05 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The company’s fifty day moving average price is $216.83 and its two-hundred day moving average price is $192.20.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same period last year, the firm earned $1.93 EPS. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is currently 29.35%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAH. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a research report on Friday, February 6th. Mizuho increased their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Leerink Partners restated an “outperform” rating and set a $275.00 price objective on shares of Cardinal Health in a report on Monday, March 9th. Finally, Evercore lifted their target price on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.67.

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.