Proficio Capital Partners LLC Invests $15 Million in Cardinal Health, Inc. (NYSE:CAH)

Proficio Capital Partners LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 126,785 shares of the company’s stock, valued at approximately $14,995,000.

Other large investors have also added to or reduced their stakes in the company. Rothschild Investment LLC lifted its position in shares of Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares during the period. Checchi Capital Advisers LLC raised its stake in Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after buying an additional 93 shares during the last quarter. MWA Asset Management lifted its holdings in Cardinal Health by 2.9% in the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after buying an additional 95 shares during the period. Transcend Capital Advisors LLC boosted its position in Cardinal Health by 3.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock valued at $323,000 after acquiring an additional 96 shares during the last quarter. Finally, Huntington National Bank grew its holdings in Cardinal Health by 0.9% during the 3rd quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH opened at $129.71 on Friday. The firm has a market capitalization of $31.33 billion, a P/E ratio of 24.20, a P/E/G ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The stock has a 50 day moving average price of $124.74 and a two-hundred day moving average price of $118.16.

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

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CAH. Deutsche Bank Aktiengesellschaft upped their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Argus set a $148.00 price objective on shares of Cardinal Health in a research report on Tuesday, February 4th. Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

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.