Kestra Investment Management LLC Buys 1,437 Shares of Cardinal Health, Inc. (NYSE:CAH)

Kestra Investment Management LLC raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 78.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,264 shares of the company’s stock after purchasing an additional 1,437 shares during the quarter. Kestra Investment Management LLC’s holdings in Cardinal Health were worth $386,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares during the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after acquiring an additional 191,568 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cardinal Health by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after acquiring an additional 33,388 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Cardinal Health by 47.9% in the 3rd 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. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.3 %

Shares of CAH opened at $126.63 on Thursday. The stock has a 50 day moving average of $123.25 and a 200 day moving average of $116.81. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84. The company has a market capitalization of $30.59 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 1.48 and a beta of 0.63.

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

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. Cardinal Health’s payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CAH. Wells Fargo & Company raised their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their price target for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.87.

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.