Convergence Investment Partners LLC Boosts Holdings in Cardinal Health, Inc. (NYSE:CAH)

Convergence Investment Partners LLC increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 32.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,125 shares of the company's stock after purchasing an additional 8,023 shares during the period. Cardinal Health makes up 0.9% of Convergence Investment Partners LLC's holdings, making the stock its 26th biggest position. Convergence Investment Partners LLC's holdings in Cardinal Health were worth $3,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Cardinal Health by 4.6% during the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after acquiring an additional 42,082 shares during the period. Pacer Advisors Inc. raised its position in Cardinal Health by 4.7% during the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company's stock valued at $474,203,000 after acquiring an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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 valued at $162,976,000 after acquiring an additional 33,388 shares during the period. Finally, Two Sigma Advisers LP boosted its position in Cardinal Health by 47.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock worth $118,197,000 after purchasing an additional 346,362 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH traded down $0.42 during mid-day trading on Friday, hitting $126.96. The stock had a trading volume of 2,354,573 shares, compared to its average volume of 2,342,976. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $132.84. The firm's 50 day moving average is $123.45 and its 200 day moving average is $116.88. The stock has a market capitalization of $30.67 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $1.93 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%. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CAH shares. Jefferies Financial Group raised shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Wells Fargo & Company increased their target price 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. UBS Group lifted their price target on Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Cardinal Health presently has a consensus rating of "Moderate Buy" and an average price target of $136.87.

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.