Park Avenue Securities LLC Acquires 18,029 Shares of Cardinal Health, Inc. (NYSE:CAH)

Park Avenue Securities LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 73.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 42,455 shares of the company’s stock after acquiring an additional 18,029 shares during the period. Park Avenue Securities LLC’s holdings in Cardinal Health were worth $5,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Cyrus J. Lawrence LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $26,000. Promus Capital LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $30,000. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $32,000. Tompkins Financial Corp grew its holdings in shares of Cardinal Health by 106.7% in the 1st quarter. Tompkins Financial Corp now owns 248 shares of the company’s stock valued at $34,000 after buying an additional 128 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Cardinal Health in the 4th quarter valued at $35,000. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CAH shares. Bank of America boosted their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, April 11th. Mizuho boosted 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. Morgan Stanley upped their target price on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Robert W. Baird upped their target price on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen raised shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Cardinal Health Trading Up 0.4%

Shares of CAH opened at $154.68 on Monday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $157.82. The firm’s 50 day moving average is $143.52 and its 200-day moving average is $131.57. The stock has a market capitalization of $36.92 billion, a PE ratio of 28.86, a P/E/G ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.32%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.83%.

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.