Cardinal Health, Inc. (NYSE:CAH) Stake Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,100 shares of the company’s stock after acquiring an additional 1,377 shares during the period. CIBC Asset Management Inc’s holdings in Cardinal Health were worth $4,388,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. MWA Asset Management increased its position in Cardinal Health by 2.9% in the 4th quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after purchasing an additional 95 shares during the last quarter. Huntington National Bank grew its position in Cardinal Health by 0.9% in the third quarter. Huntington National Bank now owns 10,792 shares of the company’s stock worth $1,193,000 after acquiring an additional 100 shares in the last quarter. Frazier Financial Advisors LLC increased its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after purchasing an additional 106 shares in the last quarter. Finally, Patron Partners LLC increased its position in Cardinal Health by 6.1% during the fourth quarter. Patron Partners LLC now owns 2,043 shares of the company’s stock worth $242,000 after buying an additional 117 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Up 0.3 %

Cardinal Health stock opened at $126.63 on Thursday. The business has a 50 day moving average price of $123.25 and a two-hundred day moving average price of $116.81. The stock has a market cap of $30.59 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating 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, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.60%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped 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. Finally, UBS Group upped their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.87.

About Cardinal Health

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.