Brookstone Capital Management reduced its stake in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 24.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,503 shares of the company’s stock after selling 3,703 shares during the period. Brookstone Capital Management’s holdings in Cardinal Health were worth $921,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Delta Asset Management LLC TN acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $25,000. SJS Investment Consulting Inc. lifted its stake in 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 during the last quarter. Retirement Group LLC lifted its stake in Cardinal Health by 1,539.3% during the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock valued at $35,000 after purchasing an additional 431 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Cardinal Health during the fourth quarter valued at approximately $36,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Cardinal Health during the first quarter valued at approximately $38,000. 85.40% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CAH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cardinal Health from $88.00 to $90.00 in a research note on Monday, May 8th. TheStreet raised shares of Cardinal Health from a “d+” rating to a “b-” rating in a research note on Thursday, May 4th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $90.00 to $93.00 in a research note on Friday, June 9th. StockNews.com started coverage on shares of Cardinal Health in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Finally, Bank of America boosted their price target on shares of Cardinal Health from $85.00 to $91.00 in a report on Friday, June 9th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $88.79.
Cardinal Health Stock Performance
Cardinal Health (NYSE:CAH – Free Report) last released its quarterly earnings data on Thursday, May 4th. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.26. The firm had revenue of $50.50 billion for the quarter, compared to analyst estimates of $49.63 billion. Cardinal Health had a net margin of 0.23% and a negative return on equity of 81.55%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 5.71 EPS for the current fiscal year.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, July 3rd will be paid a dividend of $0.5006 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 2.12%. Cardinal Health’s dividend payout ratio is 114.94%.
Cardinal Health Company Profile
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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