Brooklyn Investment Group Purchases New Holdings in Cardinal Health, Inc. (NYSE:CAH)

Brooklyn Investment Group purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 632 shares of the company’s stock, valued at approximately $70,000.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in Cardinal Health in the 3rd quarter worth about $25,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the last quarter. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health in the second quarter worth $27,000. Hara Capital LLC purchased a new position in shares of Cardinal Health in the third quarter worth $31,000. Finally, LRI Investments LLC acquired a new stake in shares of Cardinal Health in the first quarter worth $32,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAH. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Robert W. Baird raised their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Argus raised their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their price target on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $123.00.

Cardinal Health Stock Up 0.2 %

NYSE:CAH opened at $122.63 on Friday. The firm’s fifty day simple moving average is $114.51 and its 200-day simple moving average is $106.41. The stock has a market cap of $29.68 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.14.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. Equities analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Cardinal Health Profile

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.