Cardinal Health, Inc. (NYSE:CAH) Position Increased by Ieq Capital LLC

Ieq Capital LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 42.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,477 shares of the company’s stock after purchasing an additional 4,614 shares during the quarter. Ieq Capital LLC’s holdings in Cardinal Health were worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Cardinal Health during the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC grew its holdings in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC bought a new stake in Cardinal Health in the third quarter worth about $31,000. AM Squared Ltd acquired a new stake in Cardinal Health in the 3rd quarter valued at about $33,000. Finally, Kentucky Trust Co bought a new position in shares of Cardinal Health during the 4th quarter valued at about $41,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 0.3 %

Shares of NYSE:CAH opened at $126.96 on Monday. The firm has a market cap of $30.67 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The business has a fifty day simple moving average of $123.62 and a 200 day simple moving average of $117.33.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CAH. 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. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.40.

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.