Simplicity Wealth LLC Acquires Shares of 6,675 Cardinal Health, Inc. (NYSE:CAH)

Simplicity Wealth LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,675 shares of the company’s stock, valued at approximately $747,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CAH. Archford Capital Strategies LLC bought a new position in shares of Cardinal Health during the first quarter worth approximately $213,000. Spire Wealth Management increased its stake in Cardinal Health by 309.1% during the 1st quarter. Spire Wealth Management now owns 2,205 shares of the company’s stock worth $247,000 after acquiring an additional 1,666 shares during the period. Assenagon Asset Management S.A. increased its stake in Cardinal Health by 61.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 9,494 shares of the company’s stock worth $1,062,000 after acquiring an additional 3,618 shares during the period. Iowa State Bank increased its stake in Cardinal Health by 51.8% during the 1st quarter. Iowa State Bank now owns 54,092 shares of the company’s stock worth $6,053,000 after acquiring an additional 18,466 shares during the period. Finally, Milestone Asset Management LLC bought a new position in Cardinal Health during the 1st quarter worth $591,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research analyst reports. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Argus reduced their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, Wells Fargo & Company cut their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.57.

Cardinal Health Stock Performance

Shares of CAH stock traded down $0.62 during mid-day trading on Monday, hitting $98.46. The company’s stock had a trading volume of 1,399,883 shares, compared to its average volume of 2,226,763. The company’s fifty day simple moving average is $106.00 and its 200-day simple moving average is $105.63. Cardinal Health, Inc. has a 52 week low of $80.90 and a 52 week high of $116.04. The company has a market cap of $23.98 billion, a PE ratio of 43.76, a P/E/G ratio of 1.12 and a beta of 0.71.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $54.90 billion during the quarter, compared to analyst estimates of $56.05 billion. During the same period last year, the company posted $1.74 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s payout ratio is presently 88.89%.

About Cardinal Health

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.