Magnetar Financial LLC Buys New Position in Cardinal Health, Inc. (NYSE:CAH)

Magnetar Financial LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,732 shares of the company’s stock, valued at approximately $10,494,000.

A number of other hedge funds have also modified their holdings of the company. Rothschild Investment LLC lifted its position in shares of Cardinal Health by 10.1% in the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after acquiring an additional 79 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after acquiring an additional 92 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after acquiring an additional 93 shares in the last quarter. MWA Asset Management lifted its position in shares of Cardinal Health by 2.9% in the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock valued at $393,000 after acquiring an additional 95 shares in the last quarter. Finally, Transcend Capital Advisors LLC lifted its position in shares of Cardinal Health by 3.6% in the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock valued at $323,000 after acquiring an additional 96 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Up 0.5 %

CAH stock opened at $132.09 on Thursday. The company has a market capitalization of $31.91 billion, a PE ratio of 24.64, a P/E/G 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 moving average price is $126.94 and its 200 day moving average price is $119.78.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (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%. Research 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 issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.53%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Analyst Upgrades and Downgrades

CAH has been the subject of several recent research reports. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Citigroup increased their price target on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target 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.