Clear Harbor Asset Management LLC Makes New $442,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Clear Harbor Asset Management LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,734 shares of the company’s stock, valued at approximately $442,000.

Other hedge funds have also made changes to their positions in the company. Eastern Bank acquired a new stake in Cardinal Health in the 3rd quarter valued at $25,000. Frazier Financial Advisors LLC boosted its position in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after buying an additional 104 shares during the period. Hara Capital LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at about $31,000. AM Squared Ltd purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC acquired a new position in Cardinal Health during the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CAH. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Finally, Morgan Stanley increased their price target on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Price Performance

Shares of CAH opened at $127.81 on Wednesday. The stock has a market capitalization of $30.93 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.54 and a beta of 0.63. The business’s fifty day moving average price is $120.92 and its 200 day moving average price is $112.47. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $127.89.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period last year, the firm posted $1.73 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were 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 was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

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.