Adage Capital Partners GP L.L.C. Has $26.74 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Adage Capital Partners GP L.L.C. cut its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,100 shares of the company's stock after selling 3,800 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.09% of Cardinal Health worth $26,741,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health during the fourth quarter valued at approximately $26,000. Promus Capital LLC acquired a new position in Cardinal Health in the 4th quarter valued at $30,000. Lee Danner & Bass Inc. bought a new position in Cardinal Health in the 4th quarter worth $35,000. Kentucky Trust Co acquired a new position in Cardinal Health during the 4th quarter worth $41,000. Finally, HHM Wealth Advisors LLC boosted its holdings in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock valued at $47,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Bank of America boosted their price objective on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Wells Fargo & Company increased their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 4th. UBS Group boosted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price target for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Citigroup boosted their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $142.36.

Cardinal Health Stock Performance

Cardinal Health stock traded up $1.56 during trading hours on Tuesday, hitting $139.80. 2,103,154 shares of the stock were exchanged, compared to its average volume of 2,186,239. The stock has a market capitalization of $33.77 billion, a P/E ratio of 26.08, a P/E/G ratio of 1.49 and a beta of 0.61. The business's 50-day moving average is $131.05 and its two-hundred day moving average is $124.27. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $140.48.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Tuesday, April 1st. 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.