Cambridge Financial Group Inc. Has $7.82 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Cambridge Financial Group Inc. trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,546 shares of the company’s stock after selling 8,106 shares during the quarter. Cardinal Health accounts for approximately 3.9% of Cambridge Financial Group Inc.’s portfolio, making the stock its 2nd largest holding. Cambridge Financial Group Inc.’s holdings in Cardinal Health were worth $7,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in Cardinal Health in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC purchased a new stake in shares of Cardinal Health during the 4th quarter worth approximately $30,000. Hexagon Capital Partners LLC raised its holdings in shares of Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new position in Cardinal Health during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock traded down $4.07 on Friday, hitting $98.91. 3,446,183 shares of the company’s stock traded hands, compared to its average volume of 2,028,678. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 43.96, a P/E/G ratio of 1.03 and a beta of 0.71. The company’s fifty day simple moving average is $109.10 and its 200 day simple moving average is $105.01. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $54.90 billion during the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter in the previous year, the company posted $1.74 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.34 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is currently 88.89%.

Analysts Set New Price Targets

CAH has been the subject of several research reports. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday. SVB Leerink began coverage on shares of Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Evercore ISI boosted their price objective on Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research note on Friday. Robert W. Baird reduced their target price on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating for the company in a report on Friday. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.79.

Cardinal Health Company 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.