Vestcor Inc Raises Holdings in Cardinal Health, Inc. (NYSE:CAH)

Vestcor Inc grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 13,844 shares of the company’s stock after purchasing an additional 1,115 shares during the quarter. Vestcor Inc’s holdings in Cardinal Health were worth $1,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its holdings in Cardinal Health by 1.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 8,034 shares of the company’s stock worth $950,000 after purchasing an additional 99 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Cardinal Health by 4.0% during the 4th quarter. Farther Finance Advisors LLC now owns 7,732 shares of the company’s stock worth $914,000 after purchasing an additional 297 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Cardinal Health by 14.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,799 shares of the company’s stock worth $1,041,000 after purchasing an additional 1,129 shares in the last quarter. Summit X LLC lifted its holdings in Cardinal Health by 15.6% during the 4th quarter. Summit X LLC now owns 2,688 shares of the company’s stock worth $318,000 after purchasing an additional 362 shares in the last quarter. Finally, AGF Management Ltd. lifted its holdings in Cardinal Health by 342.3% during the 4th quarter. AGF Management Ltd. now owns 26,108 shares of the company’s stock worth $3,088,000 after purchasing an additional 20,205 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 1.5 %

Shares of Cardinal Health stock opened at $128.20 on Friday. The firm has a market capitalization of $30.97 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The business’s 50-day moving average price is $126.33 and its 200-day moving average price is $119.31. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

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 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, analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.58%. Cardinal Health’s payout ratio is 37.69%.

Analyst Ratings Changes

A number of analysts recently issued reports on CAH shares. Mizuho started coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Citigroup upped their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Argus set a $148.00 target price on Cardinal Health in a research note on Tuesday, February 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health 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.