Brookstone Capital Management Acquires 381 Shares of Cardinal Health, Inc. (NYSE:CAH)

Brookstone Capital Management grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,125 shares of the company’s stock after acquiring an additional 381 shares during the period. Brookstone Capital Management’s holdings in Cardinal Health were worth $1,079,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Cardinal Health by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,237,338 shares of the company’s stock valued at $121,664,000 after buying an additional 69,934 shares in the last quarter. Citizens Financial Group Inc. RI bought a new position in shares of Cardinal Health in the second quarter valued at approximately $232,000. E Fund Management Co. Ltd. grew its stake in Cardinal Health by 8.4% during the second quarter. E Fund Management Co. Ltd. now owns 2,054 shares of the company’s stock valued at $202,000 after acquiring an additional 159 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Cardinal Health by 7.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 26,078 shares of the company’s stock worth $2,564,000 after acquiring an additional 1,761 shares during the period. Finally, Amalgamated Bank lifted its stake in Cardinal Health by 4.3% in the 2nd quarter. Amalgamated Bank now owns 71,339 shares of the company’s stock worth $7,014,000 after purchasing an additional 2,959 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Mizuho began coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Trading Up 1.9 %

CAH opened at $127.03 on Friday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.08. The business’s 50-day moving average price is $120.46 and its 200-day moving average price is $111.50. The company has a market cap of $30.74 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.48 and a beta of 0.63.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was 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.