Burling Wealth Partners LLC Acquires Shares of 7,590 Cardinal Health, Inc. (NYSE:CAH)

Burling Wealth Partners LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,590 shares of the company’s stock, valued at approximately $898,000.

Several other hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC purchased a new stake in shares of Cardinal Health in the 4th quarter worth about $26,000. Promus Capital LLC purchased a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $30,000. Lee Danner & Bass Inc. bought a new position in Cardinal Health in the 4th quarter valued at approximately $35,000. Kentucky Trust Co purchased a new stake in Cardinal Health during the 4th quarter valued at $41,000. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Bank of America increased their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Mizuho boosted their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, March 31st. Morgan Stanley upped their price target 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. Finally, Citigroup lifted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.86.

Cardinal Health Price Performance

NYSE CAH opened at $134.35 on Thursday. The stock has a market capitalization of $32.45 billion, a PE ratio of 25.07, a P/E/G ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.50. The business has a 50 day simple moving average of $130.40 and a two-hundred day simple moving average of $123.61.

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

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.