Denali Advisors LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Denali Advisors LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 33,040 shares of the company’s stock, valued at approximately $3,908,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares during the period. Geode Capital Management LLC lifted its position in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after acquiring an additional 42,082 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after buying an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after buying an additional 33,388 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of Cardinal Health by 47.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Cardinal Health stock opened at $127.90 on Wednesday. The stock has a fifty day moving average of $124.08 and a two-hundred day moving average of $117.72. The company has a market capitalization of $30.90 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

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

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

Analysts Set New Price Targets

Several research firms have recently commented on CAH. Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Barclays raised their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. UBS Group raised their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and thirteen have given 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 an average target price of $138.40.

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.