CX Institutional Invests $267,000 in Cardinal Health, Inc. (NYSE:CAH)

CX Institutional acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,256 shares of the company’s stock, valued at approximately $267,000.

Several other large investors also recently modified their holdings of CAH. Point72 Asset Management L.P. acquired a new stake in shares of Cardinal Health during the second quarter worth $90,440,000. State Street Corp grew its holdings in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the period. Two Sigma Advisers LP grew its holdings in Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in Cardinal Health by 230.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after purchasing an additional 333,095 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in Cardinal Health in the third quarter worth $30,820,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Trading Down 0.3 %

Shares of NYSE CAH opened at $128.89 on Monday. The stock has a fifty day simple moving average of $121.36 and a two-hundred day simple moving average of $113.16. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $129.68. The firm has a market cap of $31.19 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same period in the prior year, the company earned $1.73 earnings per share. Cardinal Health’s revenue was down 4.3% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

Analyst Ratings Changes

CAH has been the subject of a number of research reports. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup raised their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $134.64.

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.