Verde Capital Management Acquires New Shares in Cardinal Health, Inc. (NYSE:CAH)

Verde Capital Management bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,860 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its position in Cardinal Health by 46.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,443 shares of the company’s stock worth $246,000 after acquiring an additional 778 shares in the last quarter. Public Sector Pension Investment Board raised its position in Cardinal Health by 88.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,437 shares of the company’s stock valued at $928,000 after purchasing an additional 4,435 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Cardinal Health by 3.2% in the second quarter. Evergreen Capital Management LLC now owns 3,836 shares of the company’s stock valued at $377,000 after acquiring an additional 120 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Cardinal Health by 37.9% during the 2nd quarter. Bank of Montreal Can now owns 399,046 shares of the company’s stock valued at $42,032,000 after purchasing an additional 109,749 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Cardinal Health during the 2nd quarter worth approximately $1,979,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAH. Citigroup upped their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Mizuho initiated coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Finally, StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Stock Up 0.5 %

Shares of CAH opened at $129.38 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $129.68. The company has a market cap of $31.31 billion, a PE ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63. The business has a fifty day moving average of $121.15 and a 200 day moving average of $112.70.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a $0.5056 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. Cardinal Health’s payout ratio is presently 39.30%.

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.