Applied Finance Capital Management LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Applied Finance Capital Management LLC purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,964 shares of the company's stock, valued at approximately $705,000.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted its position in Cardinal Health by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company's stock worth $691,145,000 after acquiring an additional 109,273 shares during the period. Invesco Ltd. lifted its holdings in Cardinal Health by 4.6% in the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company's stock worth $376,396,000 after purchasing an additional 140,368 shares during the period. Amundi grew its position in Cardinal Health by 5.5% in the 4th quarter. Amundi now owns 2,116,291 shares of the company's stock valued at $259,309,000 after buying an additional 110,605 shares in the last quarter. Norges Bank acquired a new position in Cardinal Health during the 4th quarter valued at about $246,748,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Cardinal Health by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company's stock worth $179,653,000 after buying an additional 44,386 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CAH shares. Morgan Stanley raised their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and raised their target price for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Citigroup upped their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $140.86.

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Cardinal Health Trading Up 1.0 %

NYSE CAH traded up $1.26 during trading on Monday, reaching $133.03. 332,028 shares of the company's stock were exchanged, compared to its average volume of 2,526,362. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.50. The company's fifty day simple moving average is $129.33 and its 200-day simple moving average is $122.48. The firm has a market capitalization of $32.14 billion, a PE ratio of 24.82, a P/E/G ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data 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%. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company 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. This represents a $2.02 annualized dividend and a yield of 1.52%. 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.