Sonora Investment Management Group LLC Takes $216,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Sonora Investment Management Group LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,568 shares of the company’s stock, valued at approximately $216,000.

Other large investors have also modified their holdings of the company. Consolidated Planning Corp boosted its holdings in shares of Cardinal Health by 40.0% in the 4th quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock valued at $1,056,000 after buying an additional 2,552 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in Cardinal Health by 1.8% during the 4th quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after purchasing an additional 3,148 shares during the period. Huntington National Bank boosted its stake in Cardinal Health by 1.2% during the 4th quarter. Huntington National Bank now owns 10,920 shares of the company’s stock worth $1,292,000 after purchasing an additional 128 shares during the period. JSF Financial LLC acquired a new stake in Cardinal Health during the 4th quarter worth $967,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Cardinal Health during the 4th quarter worth $93,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $153.07 on Wednesday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $157.82. The stock has a market capitalization of $36.54 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The company has a fifty day moving average of $144.14 and a 200-day moving average of $131.94.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same quarter last year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.33%. Cardinal Health’s dividend payout ratio (DPR) is 31.83%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Mizuho increased their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Robert W. Baird increased their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Citigroup reiterated a “neutral” rating on shares of Cardinal Health in a research note on Thursday, May 1st. UBS Group increased their price target on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Morgan Stanley increased their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $150.57.

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.