Stack Financial Management Inc Takes $12.80 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Stack Financial Management Inc bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 108,216 shares of the company’s stock, valued at approximately $12,799,000.

A number of other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in shares of Cardinal Health by 5.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,930 shares of the company’s stock worth $1,208,000 after buying an additional 545 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Cardinal Health by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,049 shares of the company’s stock valued at $2,640,000 after acquiring an additional 4,253 shares during the period. Forsta AP Fonden boosted its position in Cardinal Health by 2.9% in the third quarter. Forsta AP Fonden now owns 108,700 shares of the company’s stock worth $12,014,000 after purchasing an additional 3,100 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Cardinal Health by 93.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,065 shares of the company’s stock worth $5,091,000 after purchasing an additional 22,267 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Cardinal Health by 3.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 57,506 shares of the company’s stock valued at $6,354,000 after purchasing an additional 1,920 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

CAH has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Barclays boosted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. UBS Group boosted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.40.

Cardinal Health Stock Up 0.3 %

CAH opened at $127.43 on Tuesday. The company has a market capitalization of $30.78 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63. The firm has a 50-day simple moving average of $123.84 and a two-hundred day simple moving average of $117.53. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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 $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 37.69%.

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.