Longbow Finance SA Makes New $9.92 Million Investment in Cardinal Health, Inc. (NYSE:CAH)

Longbow Finance SA acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 83,895 shares of the company’s stock, valued at approximately $9,922,000. Cardinal Health accounts for 1.1% of Longbow Finance SA’s investment portfolio, making the stock its 22nd biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC boosted its position in Cardinal Health by 69.8% during the third 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 period. Hara Capital LLC bought a new position in Cardinal Health during the third quarter worth $31,000. AM Squared Ltd bought a new position in Cardinal Health during the third quarter worth $33,000. Kentucky Trust Co bought a new position in Cardinal Health during the fourth quarter worth $41,000. Finally, HHM Wealth Advisors LLC boosted its position in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. 87.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CAH shares. Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.40.

Cardinal Health Stock Performance

Cardinal Health stock opened at $127.43 on Tuesday. The stock has a market capitalization of $30.78 billion, a price-to-earnings ratio of 23.77, a PEG 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’s 50 day moving average price is $123.84 and its two-hundred day moving average price is $117.53.

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

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

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.