Fred Alger Management LLC Has $5.53 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Fred Alger Management LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 50.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,743 shares of the company’s stock after acquiring an additional 15,691 shares during the quarter. Fred Alger Management LLC’s holdings in Cardinal Health were worth $5,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after purchasing an additional 8,471 shares during the period. CHURCHILL MANAGEMENT Corp increased its holdings in Cardinal Health by 1.5% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares during the last quarter. Consolidated Planning Corp lifted its stake in Cardinal Health by 40.0% in the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock valued at $1,056,000 after buying an additional 2,552 shares during the period. Flputnam Investment Management Co. boosted its holdings in Cardinal Health by 1.8% during the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after buying an additional 3,148 shares during the last quarter. Finally, Patton Albertson Miller Group LLC acquired a new position in shares of Cardinal Health during the 4th quarter worth about $258,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the topic of several recent analyst reports. UBS Group lifted their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Robert W. Baird boosted their price target on Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. JPMorgan Chase & Co. increased their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Argus set a $148.00 target price on shares of Cardinal Health in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $146.43.

Cardinal Health Stock Up 0.7 %

Shares of NYSE:CAH opened at $148.36 on Friday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $154.07. The company’s 50 day moving average price is $134.65 and its two-hundred day moving average price is $126.30. The firm has a market cap of $35.41 billion, a PE ratio of 27.68, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. The company had revenue of $54.88 billion for the quarter, compared to analysts’ expectations of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Cardinal Health’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $2.08 earnings per share. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. Cardinal Health’s dividend payout ratio (DPR) is currently 31.51%.

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.