2,470 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by MFA Wealth Services

MFA Wealth Services bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,470 shares of the company’s stock, valued at approximately $292,000.

Other hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Cardinal Health during the second quarter valued at approximately $90,440,000. State Street Corp raised its holdings in 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 acquiring an additional 627,253 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Cardinal Health by 230.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after purchasing an additional 333,095 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Cardinal Health in the third quarter valued at $30,820,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 0.5 %

Shares of NYSE CAH opened at $129.38 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $129.68. The business has a 50 day moving average price of $121.15 and a two-hundred day moving average price of $112.70. The firm has a market cap of $31.31 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued 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 business had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. 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. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $133.29.

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.