MBM Wealth Consultants LLC Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

MBM Wealth Consultants LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAHGet Rating) by 35.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,374 shares of the company’s stock after acquiring an additional 360 shares during the period. MBM Wealth Consultants LLC’s holdings in Cardinal Health were worth $78,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Manchester Capital Management LLC increased its stake in Cardinal Health by 60.4% in the first quarter. Manchester Capital Management LLC now owns 494 shares of the company’s stock valued at $28,000 after purchasing an additional 186 shares during the period. Landmark Wealth Management LLC acquired a new position in Cardinal Health in the first quarter valued at $62,000. Cornerstone Advisory LLC acquired a new position in Cardinal Health in the fourth quarter valued at $35,000. Signaturefd LLC increased its stake in Cardinal Health by 26.8% in the first quarter. Signaturefd LLC now owns 955 shares of the company’s stock valued at $54,000 after purchasing an additional 202 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in Cardinal Health by 300.4% in the first quarter. Parkside Financial Bank & Trust now owns 957 shares of the company’s stock valued at $54,000 after purchasing an additional 718 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 1.0 %

Shares of NYSE CAH opened at $69.89 on Friday. Cardinal Health, Inc. has a 12-month low of $45.85 and a 12-month high of $72.28. The company has a market capitalization of $19.05 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.58 and a beta of 0.77. The company has a debt-to-equity ratio of 5.33, a current ratio of 1.08 and a quick ratio of 0.57. The firm’s 50-day moving average is $62.39 and its two-hundred day moving average is $58.43.

Cardinal Health (NYSE:CAHGet Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.12). Cardinal Health had a negative net margin of 0.51% and a positive return on equity of 568.57%. The business had revenue of $47.10 billion during the quarter, compared to analysts’ expectations of $44.82 billion. During the same period last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts anticipate that Cardinal Health, Inc. will post 5.27 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Monday, October 3rd will be issued a $0.4957 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, September 30th. Cardinal Health’s dividend payout ratio (DPR) is presently 29.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Credit Suisse Group lifted their price objective on shares of Cardinal Health from $56.00 to $64.00 and gave the company a “neutral” rating in a research note on Friday, August 12th. StockNews.com upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 12th. Robert W. Baird boosted their price target on shares of Cardinal Health from $57.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Barclays boosted their price target on shares of Cardinal Health to $67.00 in a research note on Monday, August 15th. Finally, Cowen boosted their price target on shares of Cardinal Health from $59.00 to $72.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 16th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $70.20.

About Cardinal Health

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Cardinal Health, Inc operates as an integrated 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.

Further Reading

Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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