Denali Advisors LLC Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Denali Advisors LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,040 shares of the company’s stock, valued at approximately $3,908,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAH. State Street Corp grew its position in shares of Cardinal Health by 4.6% in the third 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 period. Two Sigma Advisers LP grew its position in shares of Cardinal Health by 47.9% in the third 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. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cardinal Health by 230.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after purchasing an additional 333,095 shares during the period. Worldquant Millennium Advisors LLC grew its position in shares of Cardinal Health by 77.3% in the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock valued at $65,539,000 after purchasing an additional 258,541 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and lifted their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Argus set a $148.00 target price on Cardinal Health in a report on Tuesday, February 4th. Barclays lifted their target price on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.40.

Cardinal Health Stock Performance

NYSE:CAH opened at $127.90 on Wednesday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The business’s 50-day simple moving average is $124.08 and its 200 day simple moving average is $117.72. The stock has a market cap of $30.90 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 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%. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 1.58%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

About Cardinal Health

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.