Sit Investment Associates Inc. Buys 41,545 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sit Investment Associates Inc. grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 81.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,735 shares of the company’s stock after acquiring an additional 41,545 shares during the period. Sit Investment Associates Inc.’s holdings in Cardinal Health were worth $10,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cyrus J. Lawrence LLC bought a new position in Cardinal Health in the 4th quarter worth approximately $26,000. Promus Capital LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health during the fourth quarter worth $35,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health during the fourth quarter valued at $41,000. Finally, HHM Wealth Advisors LLC boosted its holdings in Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after acquiring an additional 144 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of several recent research reports. Mizuho boosted their price objective on Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, March 31st. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Argus set a $148.00 price objective on shares of Cardinal Health in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their target price 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. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average target price of $140.14.

Cardinal Health Trading Down 5.6 %

CAH stock opened at $129.37 on Friday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.50. The firm has a market cap of $31.25 billion, a PE ratio of 24.14, a P/E/G ratio of 1.49 and a beta of 0.66. The business’s 50-day moving average price is $129.15 and its two-hundred day moving average price is $121.55.

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

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.56%. Cardinal Health’s payout ratio is 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.