Raleigh Capital Management Inc. Has $55,000 Stake in Cardinal Health, Inc. (NYSE:CAH)

Raleigh Capital Management Inc. grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 29.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 464 shares of the company’s stock after purchasing an additional 106 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Cardinal Health were worth $55,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after acquiring an additional 42,082 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its stake in shares of Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Alpha Cubed Investments LLC bought a new position in Cardinal Health in the 3rd quarter worth approximately $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cardinal Health during the 3rd quarter worth $1,691,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

NYSE:CAH opened at $129.38 on Friday. The business’s 50-day simple moving average is $121.15 and its 200-day simple moving average is $112.70. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $129.68. The stock has a market capitalization 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 announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating 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 firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays upped their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Morgan Stanley increased their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, UBS Group lifted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.29.

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.