Ranch Capital Advisors Inc. Acquires 358 Shares of Cardinal Health, Inc. (NYSE:CAH)

Ranch Capital Advisors Inc. boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,696 shares of the company’s stock after purchasing an additional 358 shares during the quarter. Cardinal Health comprises 1.3% of Ranch Capital Advisors Inc.’s investment portfolio, making the stock its 22nd biggest position. Ranch Capital Advisors Inc.’s holdings in Cardinal Health were worth $2,803,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its holdings in shares of 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 buying an additional 627,253 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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. grew its stake in shares of Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after acquiring an additional 191,568 shares during the period. Amundi boosted its stake in Cardinal Health by 5.5% in 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 during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Cardinal Health by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.5 %

Shares of NYSE CAH opened at $126.40 on Monday. The stock has a market cap of $30.53 billion, a P/E ratio of 23.58, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The business’s fifty day simple moving average is $125.58 and its 200-day simple moving average is $118.88.

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

Cardinal Health Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CAH shares. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 7th. Mizuho started coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $139.36.

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.