Empowered Funds LLC Has $10.32 Million Stake in Cardinal Health, Inc. $CAH

Empowered Funds LLC reduced its stake in Cardinal Health, Inc. (NYSE:CAH) by 51.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 48,940 shares of the company’s stock after selling 50,991 shares during the quarter. Empowered Funds LLC’s holdings in Cardinal Health were worth $10,317,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CAH. University of Texas Texas AM Investment Management Co. acquired a new position in Cardinal Health during the fourth quarter valued at approximately $26,000. Bank of Jackson Hole Trust acquired a new position in Cardinal Health in the 4th quarter valued at $27,000. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. Palladiem LLC bought a new position in Cardinal Health in the 4th quarter worth $28,000. Finally, Indiana Trust & Investment Management Co acquired a new position in Cardinal Health during the 1st quarter worth $29,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. William Blair assumed coverage on Cardinal Health in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Zacks Research cut Cardinal Health from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 12th. Mizuho boosted their target price on shares of Cardinal Health from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Robert W. Baird set a $248.00 price target on shares of Cardinal Health in a report on Friday, May 1st. Finally, Weiss Ratings downgraded shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, May 19th. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.73.

Cardinal Health Price Performance

Shares of CAH stock opened at $227.30 on Friday. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The stock has a fifty day moving average price of $222.35 and a 200 day moving average price of $215.20. The stock has a market cap of $53.24 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.49.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. During the same quarter in the previous year, the firm posted $2.35 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Cardinal Health, Inc. will post 10.77 EPS for the current year.

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.5158 dividend. 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. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s payout ratio is presently 31.50%.

Cardinal Health Company Profile

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.