Gamco Investors INC. ET AL Invests $461,000 in Cardinal Health, Inc. (NYSE:CAH)

Posted by on Jun 12th, 2023

Gamco Investors INC. ET AL bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $461,000.

Other institutional investors also recently modified their holdings of the company. Delta Asset Management LLC TN purchased a new stake in Cardinal Health in the fourth quarter worth $25,000. SJS Investment Consulting Inc. lifted its holdings in shares of Cardinal Health by 888.6% during the fourth quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock valued at $27,000 after purchasing an additional 311 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at $36,000. Boyd Watterson Asset Management LLC OH bought a new position in shares of Cardinal Health during the fourth quarter valued at $40,000. Finally, JDM Financial Group LLC bought a new position in shares of Cardinal Health during the fourth quarter valued at $47,000. 88.93% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Cardinal Health stock traded up $0.10 during trading on Monday, reaching $86.87. 652,215 shares of the company’s stock were exchanged, compared to its average volume of 2,374,050. The company’s 50-day moving average is $82.43 and its two-hundred day moving average is $78.66. Cardinal Health, Inc. has a 52-week low of $49.70 and a 52-week high of $87.13. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 1.15 and a beta of 0.76.

Cardinal Health (NYSE:CAH – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.26. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The firm had revenue of $50.50 billion during the quarter, compared to analysts’ expectations of $49.63 billion. During the same period in the prior year, the company earned $1.45 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. Analysts anticipate that Cardinal Health, Inc. will post 5.71 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Monday, July 3rd will be given a $0.5006 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. This represents a $2.00 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, June 30th. Cardinal Health’s dividend payout ratio is presently 113.79%.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research reports. Mizuho upped their price objective on Cardinal Health from $76.00 to $85.00 in a research report on Friday. TheStreet raised Cardinal Health from a “d+” rating to a “b-” rating in a research note on Thursday, May 4th. Deutsche Bank Aktiengesellschaft increased their price target on Cardinal Health from $88.00 to $90.00 in a research note on Monday, May 8th. Citigroup raised their price objective on Cardinal Health from $88.00 to $90.00 in a research note on Monday. Finally, Bank of America raised their price target on Cardinal Health from $85.00 to $91.00 in a research note on Friday. Eight investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Hold” and an average price target of $88.79.

Cardinal Health Profile

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Cardinal Health, Inc operates as an integrated 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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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