1,957 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by SVB Wealth LLC

SVB Wealth LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,957 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds have also recently modified their holdings of CAH. Van ECK Associates Corp raised its position in shares of Cardinal Health by 4.9% during the 3rd quarter. Van ECK Associates Corp now owns 31,996 shares of the company’s stock worth $3,581,000 after purchasing an additional 1,507 shares during the last quarter. QRG Capital Management Inc. grew its stake in Cardinal Health by 83.3% during the 3rd quarter. QRG Capital Management Inc. now owns 30,135 shares of the company’s stock valued at $3,331,000 after acquiring an additional 13,697 shares in the last quarter. NorthRock Partners LLC purchased a new stake in Cardinal Health during the 3rd quarter valued at about $537,000. HF Advisory Group LLC grew its stake in Cardinal Health by 8.4% during the 3rd quarter. HF Advisory Group LLC now owns 8,597 shares of the company’s stock valued at $950,000 after acquiring an additional 663 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC grew its stake in Cardinal Health by 4.6% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 6,114 shares of the company’s stock valued at $676,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the subject of several research reports. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Wells Fargo & Company upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley upped their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Stock Performance

NYSE:CAH opened at $127.50 on Thursday. The stock has a market capitalization of $30.80 billion, a P/E ratio of 23.79, a PEG ratio of 1.49 and a beta of 0.63. The company has a 50 day moving average price of $125.28 and a 200 day moving average price of $118.57. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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%. Research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. Cardinal Health’s payout ratio is currently 37.69%.

Cardinal Health Company 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.