Magnetar Financial LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Magnetar Financial LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 88,732 shares of the company’s stock, valued at approximately $10,494,000.

Other large investors also recently bought and sold shares of the company. Promus Capital LLC purchased a new stake in Cardinal Health during the 4th quarter worth about $30,000. Kentucky Trust Co purchased a new stake in Cardinal Health during the 4th quarter worth about $41,000. HHM Wealth Advisors LLC increased its holdings in Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. Raleigh Capital Management Inc. increased its holdings in Cardinal Health by 29.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after purchasing an additional 106 shares during the period. Finally, Quarry LP boosted its position in shares of Cardinal Health by 541.7% during the 3rd quarter. Quarry LP now owns 616 shares of the company’s stock worth $68,000 after acquiring an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.5 %

Shares of NYSE CAH opened at $132.09 on Thursday. The stock has a market cap of $31.91 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The business has a 50-day moving average price of $126.94 and a 200 day moving average price of $119.78.

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 negative return on equity of 59.57% and a net margin of 0.59%. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Morgan Stanley upped their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group raised 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 research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

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.