Cardinal Health, Inc. (NYSE:CAH) Position Lifted by Cibc World Markets Corp

Cibc World Markets Corp raised its stake in Cardinal Health, Inc. (NYSE:CAH) by 82.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,564 shares of the company’s stock after purchasing an additional 27,456 shares during the period. Cibc World Markets Corp’s holdings in Cardinal Health were worth $7,163,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Promus Capital LLC acquired a new stake in shares of Cardinal Health during the 4th quarter valued at approximately $30,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health in the 4th quarter valued at about $41,000. HHM Wealth Advisors LLC grew its position in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after buying an additional 144 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after acquiring an additional 106 shares during the period. Finally, Quarry LP boosted its stake in Cardinal Health by 541.7% in the third quarter. Quarry LP now owns 616 shares of the company’s stock valued at $68,000 after acquiring an additional 520 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CAH. Mizuho started coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. raised their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Performance

Cardinal Health stock opened at $131.36 on Wednesday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $133.12. The firm’s 50 day moving average price is $126.75 and its two-hundred day moving average price is $119.69. The firm has a market cap of $31.73 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal 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 1.54%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is 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.