Point72 Europe London LLP Takes $3.98 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Point72 Europe London LLP purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 39,514 shares of the company’s stock, valued at approximately $3,983,000.

Several other hedge funds have also recently modified their holdings of CAH. Clearstead Trust LLC purchased a new stake in Cardinal Health in the 4th quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter worth $30,000. Hexagon Capital Partners LLC lifted its holdings in Cardinal Health by 53.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. Wetzel Investment Advisors Inc. purchased a new stake in shares of Cardinal Health during the 4th quarter worth $36,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of Cardinal Health during the 4th quarter worth $46,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAH has been the subject of several recent analyst reports. Argus reduced their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Evercore ISI lifted their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a research report on Friday, May 3rd. Robert W. Baird lowered their price target on Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company reduced their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a report on Monday, April 29th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.57.

View Our Latest Stock Analysis on CAH

Cardinal Health Stock Up 0.2 %

Shares of CAH stock traded up $0.17 during mid-day trading on Tuesday, hitting $99.01. 1,694,914 shares of the company’s stock were exchanged, compared to its average volume of 2,181,544. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 1.12 and a beta of 0.64. Cardinal Health, Inc. has a fifty-two week low of $85.11 and a fifty-two week high of $116.04. The stock has a 50-day simple moving average of $101.44 and a two-hundred day simple moving average of $104.93.

Cardinal Health (NYSE:CAHGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. The firm had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same period last year, the company earned $1.74 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. Cardinal Health’s dividend payout ratio is presently 88.89%.

About Cardinal Health

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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