Magnetar Financial LLC Makes New $10.49 Million Investment in Cardinal Health, Inc. (NYSE:CAH)

Magnetar Financial LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 88,732 shares of the company's stock, valued at approximately $10,494,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CAH. Promus Capital LLC bought a new position in Cardinal Health in the 4th quarter worth about $30,000. Kentucky Trust Co bought a new position in shares of Cardinal Health in the fourth quarter worth approximately $41,000. HHM Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock valued at $47,000 after buying an additional 144 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company's stock valued at $55,000 after buying an additional 106 shares during the last quarter. Finally, Quarry LP raised its holdings in Cardinal Health by 541.7% in the 3rd quarter. Quarry LP now owns 616 shares of the company's stock worth $68,000 after acquiring an additional 520 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. TD Cowen upgraded Cardinal Health from a "hold" rating to a "buy" rating and increased their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Citigroup lifted their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a report on Tuesday, February 4th. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $139.36.

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Cardinal Health Price Performance

Shares of NYSE:CAH traded up $1.36 during midday trading on Monday, hitting $133.25. The company had a trading volume of 2,153,232 shares, compared to its average volume of 1,975,725. The company has a market cap of $32.19 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $133.67. The company has a fifty day moving average of $127.60 and a two-hundred day moving average of $120.24.

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

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's payout ratio is 37.69%.

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.