West Oak Capital LLC Raises Position in Cardinal Health, Inc. (NYSE:CAH)

West Oak Capital LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 182.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,205 shares of the company’s stock after purchasing an additional 1,425 shares during the quarter. West Oak Capital LLC’s holdings in Cardinal Health were worth $233,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CAH. State Street Corp lifted its stake in Cardinal Health by 2.1% during the 1st quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after acquiring an additional 457,777 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after purchasing an additional 511,826 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 0.5% during the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock valued at $406,560,000 after purchasing an additional 28,250 shares in the last quarter. Morgan Stanley boosted its holdings in Cardinal Health by 3.6% during the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock worth $353,155,000 after purchasing an additional 161,667 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after purchasing an additional 1,862,291 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.1 %

NYSE:CAH traded down $0.11 during trading hours on Thursday, hitting $111.93. 295,181 shares of the company’s stock traded hands, compared to its average volume of 2,389,891. The firm has a market cap of $27.22 billion, a P/E ratio of 43.91, a P/E/G ratio of 1.08 and a beta of 0.68. The business’s fifty day simple moving average is $108.39 and its two-hundred day simple moving average is $101.85. Cardinal Health, Inc. has a 52 week low of $72.52 and a 52 week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $1.32 EPS. On average, analysts expect that Cardinal Health, Inc. will post 7.29 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be paid a $0.5006 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.79%. Cardinal Health’s dividend payout ratio is presently 78.74%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CAH shares. SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price on the stock. Barclays initiated coverage on Cardinal Health in a report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Wells Fargo & Company began coverage on Cardinal Health in a research note on Thursday, December 14th. They set an “underweight” rating and a $96.00 target price on the stock. Finally, UBS Group increased their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $103.07.

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.