Promus Capital LLC Invests $30,000 in Cardinal Health, Inc. (NYSE:CAH)

Promus Capital LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 257 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds also recently added to or reduced their stakes in CAH. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares in the last quarter. Hara Capital LLC purchased a new position in Cardinal Health during the third quarter valued at approximately $31,000. AM Squared Ltd purchased a new position in Cardinal Health during the third quarter valued at approximately $33,000. Kentucky Trust Co bought a new position in Cardinal Health in the fourth quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC lifted its holdings in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

Cardinal Health stock opened at $126.72 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The company has a market cap of $30.61 billion, a PE ratio of 23.64, a PEG ratio of 1.49 and a beta of 0.63. The business’s 50-day simple moving average is $125.28 and its two-hundred day simple moving average is $118.57.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Analyst Upgrades and Downgrades

CAH has been the subject of several recent research reports. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.36.

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.