BKM Wealth Management LLC Invests $30,000 in Cardinal Health, Inc. (NYSE:CAH)

BKM Wealth Management LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 300 shares of the company’s stock, valued at approximately $30,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $209,000. Nordea Investment Management AB boosted its stake in Cardinal Health by 50.5% in the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after acquiring an additional 61,933 shares during the period. Zurich Insurance Group Ltd FI boosted its stake in Cardinal Health by 2,761.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 538,038 shares of the company’s stock valued at $50,882,000 after acquiring an additional 519,238 shares during the period. Commonwealth Equity Services LLC boosted its stake in Cardinal Health by 9.3% in the third quarter. Commonwealth Equity Services LLC now owns 84,096 shares of the company’s stock valued at $7,301,000 after acquiring an additional 7,174 shares during the period. Finally, Alberta Investment Management Corp boosted its stake in Cardinal Health by 4,446.0% in the second quarter. Alberta Investment Management Corp now owns 209,116 shares of the company’s stock valued at $19,776,000 after acquiring an additional 204,516 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

NYSE CAH opened at $111.07 on Tuesday. The stock has a market capitalization of $27.02 billion, a P/E ratio of 43.73, a P/E/G ratio of 1.07 and a beta of 0.68. Cardinal Health, Inc. has a 1 year low of $70.57 and a 1 year high of $116.04. The business’s fifty day moving average is $108.14 and its two-hundred day moving average is $101.62.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same period in the previous year, the company posted $1.32 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.29 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analyst Ratings Changes

CAH has been the subject of a number of research reports. Wells Fargo & Company began coverage on Cardinal Health in a research note on Thursday, December 14th. They issued an “underweight” rating and a $96.00 target price for the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. UBS Group boosted their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. TheStreet downgraded Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Get Our Latest Stock Report on CAH

About Cardinal Health

(Free Report)

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.

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

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