Stevens Capital Management LP Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Stevens Capital Management LP bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,239 shares of the company’s stock, valued at approximately $265,000.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Cardinal Health by 23.9% in the third quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company’s stock valued at $1,406,000 after buying an additional 2,451 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Cardinal Health during the 3rd quarter valued at about $214,000. Charles Schwab Investment Management Inc. increased its stake in shares of Cardinal Health by 2.3% in the 3rd 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. Cerity Partners LLC raised its holdings in Cardinal Health by 35.9% in the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company’s stock worth $3,643,000 after purchasing an additional 8,707 shares during the period. Finally, Algert Global LLC purchased a new position in Cardinal Health during the third quarter worth approximately $1,008,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CAH shares. Citigroup increased their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $145.00 in a report on Monday, January 6th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley boosted their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Stock Up 1.0 %

NYSE CAH opened at $133.25 on Tuesday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $133.67. The business’s fifty day simple moving average is $127.60 and its 200-day simple moving average is $120.24. The firm has a market cap of $32.19 billion, a PE ratio of 24.86, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last posted its earnings results 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 net margin of 0.59% and a negative return on equity of 59.57%. Research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.52%. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.