Keynote Financial Services LLC Invests $201,000 in Cardinal Health, Inc. (NYSE:CAH)

Keynote Financial Services LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,700 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently bought and sold shares of CAH. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cardinal Health by 35.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock valued at $3,871,000 after purchasing an additional 8,471 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its holdings in Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after buying an additional 3,576 shares during the last quarter. Geode Capital Management LLC increased its position in Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after buying an additional 42,082 shares during the period. Consolidated Planning Corp lifted its holdings in shares of Cardinal Health by 40.0% during the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock worth $1,056,000 after buying an additional 2,552 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 acquiring an additional 33,388 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of several research analyst reports. Citigroup upped their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. UBS Group upped their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $129.71 on Friday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $132.84. The business has a fifty day moving average of $124.74 and a two-hundred day moving average of $118.16. The stock has a market cap of $31.33 billion, a PE ratio of 24.20, a PEG ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 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.