Paralel Advisors LLC Purchases 2,040 Shares of Cardinal Health, Inc. (NYSE:CAH)

Paralel Advisors LLC grew its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,483 shares of the company's stock after acquiring an additional 2,040 shares during the quarter. Paralel Advisors LLC's holdings in Cardinal Health were worth $2,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Cyrus J. Lawrence LLC bought a new stake in Cardinal Health during the 4th quarter worth about $26,000. Promus Capital LLC bought a new stake in Cardinal Health during the fourth quarter worth about $30,000. Lee Danner & Bass Inc. acquired a new position in Cardinal Health during the fourth quarter valued at approximately $35,000. Kentucky Trust Co bought a new position in Cardinal Health in the fourth quarter valued at approximately $41,000. Finally, HHM Wealth Advisors LLC increased 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 purchasing an additional 144 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

Shares of NYSE CAH traded down $0.82 during trading on Tuesday, hitting $133.96. 1,054,539 shares of the company traded hands, compared to its average volume of 2,178,787. The firm has a market capitalization of $32.36 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.49 and a beta of 0.61. The business's fifty day moving average is $129.48 and its 200 day moving average is $122.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.50.

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

Cardinal Health Announces Dividend

The firm 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 $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.51%. Cardinal Health's dividend payout ratio is currently 37.69%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CAH shares. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Morgan Stanley raised their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup upped their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $140.86.

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.