Opal Wealth Advisors LLC Buys Shares of 1,442 Cardinal Health, Inc. (NYSE:CAH)

Opal Wealth Advisors LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the first quarter, HoldingsChannel.com reports. The firm bought 1,442 shares of the company’s stock, valued at approximately $199,000.

A number of other large investors have also recently modified their holdings of the business. Hennessy Advisors Inc. acquired a new stake in shares of Cardinal Health in the 1st quarter valued at $2,948,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Cardinal Health by 15.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,790 shares of the company’s stock valued at $4,931,000 after acquiring an additional 4,693 shares in the last quarter. Goldstone Financial Group LLC acquired a new stake in shares of Cardinal Health during the 1st quarter valued at $200,000. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Cardinal Health by 0.8% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 11,981 shares of the company’s stock valued at $1,651,000 after acquiring an additional 98 shares in the last quarter. Finally, Yarger Wealth Strategies LLC acquired a new stake in shares of Cardinal Health during the 1st quarter valued at $242,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.5%

Shares of NYSE:CAH opened at $161.28 on Friday. The firm has a market cap of $38.49 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $162.94. The business has a fifty day simple moving average of $146.04 and a 200 day simple moving average of $132.69.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a $0.5107 dividend. The ex-dividend date is Tuesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.27%. Cardinal Health’s dividend payout ratio (DPR) is 31.83%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CAH shares. Mizuho raised their price objective on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 31st. Citigroup raised their price objective on Cardinal Health from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. Evercore ISI raised their price objective on Cardinal Health from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group raised their price objective on Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Robert W. Baird raised their price objective on Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

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.