Jackson Creek Investment Advisors LLC Takes $400,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Jackson Creek Investment Advisors LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,383 shares of the company’s stock, valued at approximately $400,000.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its position in shares of Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after purchasing an additional 44,386 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

NYSE CAH opened at $126.40 on Friday. The firm has a 50 day simple moving average of $125.58 and a 200-day simple moving average of $118.82. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The firm has a market cap of $30.53 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data 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 net margin of 0.59% and a negative return on equity of 59.57%. 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 declared 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. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. 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 report on Tuesday, February 4th. Argus set a $148.00 price objective on shares of Cardinal Health in a report 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 report on Tuesday, February 4th. Mizuho assumed coverage on shares of Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Finally, TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.