Cardinal Health, Inc. $CAH Shares Purchased by Kentucky Retirement Systems

Kentucky Retirement Systems boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 88.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,193 shares of the company’s stock after buying an additional 13,211 shares during the period. Kentucky Retirement Systems’ holdings in Cardinal Health were worth $5,957,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Cardinal Health in the 4th quarter worth $26,000. Bank of Jackson Hole Trust acquired a new position in shares of Cardinal Health during the fourth quarter worth about $27,000. Jones Financial Companies Lllp increased its stake in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the period. Palladiem LLC purchased a new position in Cardinal Health during the fourth quarter worth about $28,000. Finally, Indiana Trust & Investment Management Co purchased a new position in Cardinal Health during the first quarter worth about $29,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.8%

Shares of CAH opened at $227.30 on Friday. The firm’s 50-day moving average is $222.35 and its two-hundred day moving average is $215.20. Cardinal Health, Inc. has a twelve month low of $137.75 and a twelve month high of $243.21. The firm has a market capitalization of $53.24 billion, a P/E ratio of 34.76, a PEG ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The company had revenue of $60.94 billion during the quarter, compared to analysts’ expectations of $62.10 billion. During the same period last year, the company posted $2.35 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts predict that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, May 19th. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. reduced their price target on Cardinal Health from $243.00 to $215.00 and set a “neutral” rating for the company in a report on Monday, May 4th. UBS Group lifted their price target on Cardinal Health from $260.00 to $274.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Evercore dropped their price objective on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $251.73.

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.