Cardinal Health, Inc. (NYSE:CAH) Stock Holdings Increased by Cibc World Markets Corp

Cibc World Markets Corp boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 82.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,564 shares of the company’s stock after purchasing an additional 27,456 shares during the period. Cibc World Markets Corp’s holdings in Cardinal Health were worth $7,163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. OneDigital Investment Advisors LLC increased its position in Cardinal Health by 9.0% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,732 shares of the company’s stock worth $412,000 after purchasing an additional 307 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Cardinal Health by 8.3% during the 3rd quarter. CIBC Asset Management Inc now owns 35,723 shares of the company’s stock valued at $3,948,000 after purchasing an additional 2,746 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Cardinal Health by 23.9% during the third quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company’s stock worth $1,406,000 after buying an additional 2,451 shares during the last quarter. Swiss National Bank lifted its position in shares of Cardinal Health by 0.4% in the third quarter. Swiss National Bank now owns 722,800 shares of the company’s stock worth $79,884,000 after buying an additional 2,700 shares during the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of Cardinal Health during the 3rd quarter valued at about $214,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAH. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target on the stock. Citigroup increased their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.36.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $131.36 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $133.12. The company’s 50 day moving average price is $126.75 and its two-hundred day moving average price is $119.69. The firm has a market capitalization of $31.73 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its earnings results 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%. On average, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share 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 issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.54%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

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.