Cardinal Health, Inc. (NYSE:CAH) Stock Position Lifted by AGF Management Ltd.

AGF Management Ltd. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 342.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,108 shares of the company’s stock after buying an additional 20,205 shares during the quarter. AGF Management Ltd.’s holdings in Cardinal Health were worth $3,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. State Street Corp increased its stake in shares of Cardinal Health by 4.6% in the third 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 last quarter. Geode Capital Management LLC grew its stake in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Pacer Advisors Inc. increased its position in Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares during the last quarter. Amundi raised its stake in shares of Cardinal Health by 5.5% during the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Cardinal Health by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after buying an additional 44,386 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAH. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Citigroup raised their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Finally, Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Trading Up 2.2 %

Shares of Cardinal Health stock opened at $126.87 on Thursday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84. The company’s fifty day simple moving average is $125.99 and its 200-day simple moving average is $119.14. The company has a market cap of $30.65 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (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%. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Cardinal Health 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.