Atomi Financial Group Inc. Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Atomi Financial Group Inc. purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, Holdings Channel reports. The fund purchased 2,018 shares of the company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Eastern Bank bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its stake in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $31,000. AM Squared Ltd bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $33,000. Finally, Carolina Wealth Advisors LLC bought a new stake in shares of Cardinal Health during the third quarter valued at approximately $47,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $128.89 on Monday. The firm has a market capitalization of $31.19 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $129.68. The company’s fifty day moving average price is $121.36 and its 200-day moving average price is $113.16.

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

Cardinal Health Cuts Dividend

The firm 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 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analyst Weigh In

CAH has been the subject of several research analyst reports. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays boosted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.64.

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.