Cinctive Capital Management LP Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

Cinctive Capital Management LP lifted its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 353.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,122 shares of the company's stock after purchasing an additional 112,333 shares during the quarter. Cardinal Health accounts for about 0.9% of Cinctive Capital Management LP's holdings, making the stock its 20th largest holding. Cinctive Capital Management LP owned approximately 0.06% of Cardinal Health worth $17,045,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC increased its holdings in shares of Cardinal Health by 10.1% in the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after buying an additional 79 shares during the period. Private Trust Co. NA grew its position in Cardinal Health by 11.0% during the 4th quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after acquiring an additional 92 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock worth $411,000 after purchasing an additional 93 shares during the period. TIAA Trust National Association lifted its position in Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after purchasing an additional 94 shares during the last quarter. Finally, MWA Asset Management boosted its stake in shares of Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company's stock valued at $393,000 after purchasing an additional 95 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on CAH. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Argus set a $148.00 price objective on shares of Cardinal Health in a research report on Tuesday, February 4th. Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and increased their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.14.

Cardinal Health Trading Down 4.3 %

CAH stock traded down $5.61 during trading on Monday, reaching $124.02. The stock had a trading volume of 2,052,586 shares, compared to its average volume of 2,439,008. The stock's 50 day moving average is $129.15 and its two-hundred day moving average is $121.69. The firm has a market cap of $29.96 billion, a PE ratio of 23.08, a PEG ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.50.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating 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 anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is 37.69%.

About Cardinal Health

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.