Truvestments Capital LLC Buys 2,186 Shares of Cardinal Health, Inc. (NYSE:CAH)

Truvestments Capital LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 22.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,128 shares of the company’s stock after buying an additional 2,186 shares during the period. Truvestments Capital LLC’s holdings in Cardinal Health were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of CAH. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC lifted its stake 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 during the last quarter. Cultivar Capital Inc. purchased a new position in Cardinal Health during the second quarter worth about $27,000. Hara Capital LLC acquired a new stake in Cardinal Health in the 3rd quarter valued at approximately $31,000. Finally, LRI Investments LLC purchased a new stake in shares of Cardinal Health in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $121.84 on Monday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The company’s 50 day moving average price is $113.90 and its 200 day moving average price is $105.96. The company has a market capitalization of $29.49 billion, a PE ratio of 23.70, a PEG ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. Cardinal Health’s payout ratio is currently 39.30%.

Analysts Set New Price Targets

CAH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Robert W. Baird raised their price target on Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Barclays raised their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Argus boosted their price objective on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $123.00.

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.