Iron Triangle Partners LP Acquires New Position in Cardinal Health, Inc. (NYSE:CAH)

Iron Triangle Partners LP bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 186,002 shares of the company’s stock, valued at approximately $21,998,000. Cardinal Health makes up about 2.4% of Iron Triangle Partners LP’s portfolio, making the stock its 19th largest holding. Iron Triangle Partners LP owned 0.08% of Cardinal Health at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CAH. Geode Capital Management LLC increased its position in Cardinal Health by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock valued at $691,145,000 after purchasing an additional 109,273 shares during the period. Invesco Ltd. boosted its stake in shares of Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock valued at $376,396,000 after purchasing an additional 140,368 shares in the last quarter. Marshall Wace LLP increased its holdings in Cardinal Health by 154.6% during the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after buying an additional 1,913,892 shares during the period. Northern Trust Corp raised its stake in Cardinal Health by 16.2% in the fourth quarter. Northern Trust Corp now owns 3,037,849 shares of the company’s stock worth $359,286,000 after buying an additional 422,755 shares in the last quarter. Finally, Amundi lifted its holdings in Cardinal Health by 5.5% during the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after buying an additional 110,605 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. UBS Group boosted their price target on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Argus set a $148.00 target price on shares of Cardinal Health in a report on Tuesday, February 4th. Mizuho raised their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, March 31st. JPMorgan Chase & Co. lifted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company increased their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Cardinal Health Price Performance

Shares of CAH stock opened at $148.36 on Friday. The business has a fifty day moving average of $134.65 and a 200 day moving average of $126.40. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $154.07. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same period last year, the business posted $2.08 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is 31.51%.

Cardinal Health Company 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.