Plato Investment Management Ltd Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Plato Investment Management Ltd boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.3% during the fourth quarter, Holdings Channel reports. The firm owned 5,323 shares of the company’s stock after acquiring an additional 584 shares during the quarter. Plato Investment Management Ltd’s holdings in Cardinal Health were worth $632,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Frazier Financial Advisors LLC grew its holdings 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 acquiring an additional 104 shares during the period. Hara Capital LLC purchased a new position in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. AM Squared Ltd purchased a new position in shares of Cardinal Health during the 3rd quarter worth approximately $33,000. Kentucky Trust Co purchased a new position in shares of Cardinal Health during the 4th quarter worth approximately $41,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CAH. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Morgan Stanley upped 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. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Trading Down 2.2 %

CAH stock opened at $126.38 on Wednesday. The stock has a market capitalization of $30.53 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.49 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. The stock’s 50 day simple moving average is $125.11 and its 200 day simple moving average is $118.51.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (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, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Cardinal Health Company 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.