Meeder Asset Management Inc. Grows Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Meeder Asset Management Inc. raised its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 85,274.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,568 shares of the company's stock after purchasing an additional 72,483 shares during the quarter. Meeder Asset Management Inc.'s holdings in Cardinal Health were worth $8,583,000 as of its most recent SEC filing.

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

Cardinal Health Stock Performance

NYSE CAH traded down $1.67 during trading hours on Thursday, hitting $137.00. The company had a trading volume of 2,312,559 shares, compared to its average volume of 2,110,349. The firm has a 50 day simple moving average of $128.98 and a 200 day simple moving average of $121.33. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.39. The firm has a market capitalization of $33.10 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. Cardinal Health's payout ratio is currently 37.69%.

Analyst Ratings Changes

CAH has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Mizuho boosted their target price on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday. Wells Fargo & Company raised their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Citigroup boosted their price target 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. Finally, JPMorgan Chase & Co. increased their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of "Moderate Buy" and an average price target of $140.14.

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.