Edgestream Partners L.P. Has $865,000 Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Edgestream Partners L.P. grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 225.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,313 shares of the company’s stock after purchasing an additional 5,066 shares during the period. Edgestream Partners L.P.’s holdings in Cardinal Health were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Frazier Financial Advisors LLC increased its holdings in shares of 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 buying an additional 104 shares in the last quarter. Promus Capital LLC bought a new position in Cardinal Health in the 4th quarter valued at $30,000. AM Squared Ltd acquired a new position in Cardinal Health in the third quarter worth $33,000. Kentucky Trust Co bought a new stake in shares of Cardinal Health during the fourth quarter worth $41,000. Finally, HHM Wealth Advisors LLC increased its stake in shares of Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after buying an additional 144 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the topic of several research reports. Morgan Stanley upped their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Finally, Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective 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 eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Price Performance

NYSE CAH opened at $124.25 on Wednesday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The firm has a market cap of $30.01 billion, a P/E ratio of 23.18, a P/E/G ratio of 1.49 and a beta of 0.66. The stock’s 50-day moving average is $125.82 and its 200-day moving average is $119.08.

Cardinal Health (NYSE:CAH) last announced its earnings results 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%. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.63%. Cardinal Health’s dividend payout ratio is currently 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.