Burney Co. Buys 2,116 Shares of Cardinal Health, Inc. (NYSE:CAH)

Burney Co. lifted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,577 shares of the company's stock after acquiring an additional 2,116 shares during the period. Burney Co.'s holdings in Cardinal Health were worth $4,562,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CAH. State Street Corp raised its position in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock valued at $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC grew its stake 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 valued at $633,298,000 after acquiring an additional 42,082 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company's stock valued at $474,203,000 after purchasing an additional 191,568 shares during the period. ProShare Advisors LLC lifted its position in shares of Cardinal Health by 5.1% in the second quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company's stock worth $172,974,000 after purchasing an additional 85,247 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 worth $162,976,000 after purchasing an additional 33,388 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on CAH shares. Morgan Stanley upped their price objective on shares of Cardinal Health from $127.00 to $136.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Wells Fargo & Company upgraded Cardinal Health from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.29.

Cardinal Health Stock Up 1.9 %

Shares of NYSE:CAH traded up $2.32 during trading on Thursday, reaching $127.03. The stock had a trading volume of 1,927,192 shares, compared to its average volume of 2,169,559. The stock has a fifty day simple moving average of $120.46 and a two-hundred day simple moving average of $111.50. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $127.08. The firm has a market capitalization of $30.74 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 1.48 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, January 2nd. Cardinal Health's dividend payout ratio (DPR) is currently 39.30%.

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.