NEOS Investment Management LLC Purchases 2,483 Shares of Cardinal Health, Inc. (NYSE:CAH)

NEOS Investment Management LLC raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 28.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 11,183 shares of the company’s stock after buying an additional 2,483 shares during the quarter. NEOS Investment Management LLC’s holdings in Cardinal Health were worth $1,317,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CAH. Thrivent Financial for Lutherans grew its stake 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 purchasing an additional 2,451 shares during the period. Cerity Partners LLC grew its position in shares of Cardinal Health by 35.9% during the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after buying an additional 8,707 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $1,691,000. Public Sector Pension Investment Board increased its stake in shares of Cardinal Health by 12.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 10,637 shares of the company’s stock valued at $1,176,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Vinva Investment Management Ltd lifted its position in shares of Cardinal Health by 232.9% during the 3rd quarter. Vinva Investment Management Ltd now owns 10,790 shares of the company’s stock valued at $1,185,000 after acquiring an additional 7,549 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $136.43 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $137.18. The company has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66. The firm’s fifty day moving average price is $128.36 and its two-hundred day moving average price is $120.80.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping 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%. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm 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. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is 37.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Mizuho initiated coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Citigroup upped their price target 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 price objective on Cardinal Health in a research note on Tuesday, February 4th. Finally, Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.