Healthcare of Ontario Pension Plan Trust Fund Invests $182,000 in Cardinal Health, Inc. (NYSE:CAH)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,628 shares of the company’s stock, valued at approximately $182,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Clearstead Trust LLC purchased a new stake in shares of Cardinal Health in the fourth quarter worth approximately $25,000. Raleigh Capital Management Inc. increased its position in shares of Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after acquiring an additional 268 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $32,000. Hexagon Capital Partners LLC increased its position in shares of Cardinal Health by 53.6% during the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares during the last quarter. Finally, Palisade Asset Management LLC purchased a new stake in shares of Cardinal Health during the first quarter valued at approximately $34,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 1.5 %

NYSE CAH opened at $98.37 on Friday. The stock’s 50-day simple moving average is $98.02 and its two-hundred day simple moving average is $103.59. Cardinal Health, Inc. has a twelve month low of $85.11 and a twelve month high of $116.04. The company has a market capitalization of $23.96 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 1.07 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The business had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter last year, the business posted $1.74 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.5056 dividend. The ex-dividend date was Monday, July 1st. This represents a $2.02 annualized dividend and a dividend yield of 2.06%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is currently 89.78%.

Analyst Ratings Changes

CAH has been the subject of a number of research analyst reports. Evercore ISI decreased their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Citigroup decreased their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company decreased their price target on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Finally, Robert W. Baird increased their price objective on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $109.67.

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.