Gateway Investment Advisers LLC Purchases 6,034 Shares of Cardinal Health, Inc. (NYSE:CAH)

Gateway Investment Advisers LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 98.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,154 shares of the company's stock after purchasing an additional 6,034 shares during the period. Gateway Investment Advisers LLC's holdings in Cardinal Health were worth $1,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Eastern Bank acquired a new stake in Cardinal Health during the third quarter worth approximately $25,000. Frazier Financial Advisors LLC lifted its position in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC acquired a new stake in shares of Cardinal Health during the 3rd quarter worth $31,000. AM Squared Ltd bought a new position in shares of Cardinal Health in the third quarter worth $33,000. Finally, Carolina Wealth Advisors LLC acquired a new position in Cardinal Health in the third quarter valued at about $47,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Down 0.6 %

NYSE:CAH traded down $0.76 during mid-day trading on Friday, hitting $126.27. 1,642,944 shares of the company's stock were exchanged, compared to its average volume of 1,877,583. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $127.27. The firm has a market capitalization of $30.56 billion, a P/E ratio of 24.57, a PEG ratio of 1.48 and a beta of 0.63. The company has a 50 day simple moving average of $120.75 and a 200-day simple moving average of $111.92.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health's revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. As a group, analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health's dividend payout ratio is currently 39.30%.

Analyst Ratings Changes

CAH has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. UBS Group lifted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an "outperform" rating and a $139.00 price objective for the company. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Finally, Citigroup boosted their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $133.29.

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.