Convergence Investment Partners LLC Has $3.92 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Convergence Investment Partners LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,125 shares of the company’s stock after purchasing an additional 8,023 shares during the period. Cardinal Health comprises 0.9% of Convergence Investment Partners LLC’s portfolio, making the stock its 26th biggest holding. Convergence Investment Partners LLC’s holdings in Cardinal Health were worth $3,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CAH. Kentucky Retirement Systems Insurance Trust Fund raised its position in Cardinal Health by 67.5% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,093 shares of the company’s stock valued at $1,430,000 after purchasing an additional 4,873 shares during the last quarter. Kestra Investment Management LLC raised its stake in Cardinal Health by 78.7% during the 4th quarter. Kestra Investment Management LLC now owns 3,264 shares of the company’s stock worth $386,000 after buying an additional 1,437 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in shares of Cardinal Health by 20.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 56,992 shares of the company’s stock valued at $6,740,000 after buying an additional 9,837 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Cardinal Health by 86.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,812 shares of the company’s stock worth $214,000 after buying an additional 838 shares in the last quarter. Finally, Truist Financial Corp increased its stake in Cardinal Health by 29.5% in the 4th quarter. Truist Financial Corp now owns 108,486 shares of the company’s stock valued at $12,831,000 after buying an additional 24,732 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.1 %

Shares of CAH opened at $126.35 on Wednesday. The stock has a 50 day moving average of $123.06 and a 200 day moving average of $116.74. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84. The company has a market capitalization of $30.52 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup upped their price objective 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. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Morgan Stanley raised their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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 research report on Tuesday, January 7th. Finally, UBS Group increased their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $136.87.

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.