6,101 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Simplify Asset Management Inc.

Simplify Asset Management Inc. bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,101 shares of the company's stock, valued at approximately $718,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAH. State Street Corp increased its stake in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company's stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the period. Raymond James Financial Inc. purchased a new position in Cardinal Health in the 4th quarter worth about $45,115,000. Two Sigma Advisers LP lifted its holdings in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock valued at $118,197,000 after buying an additional 346,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Cardinal Health by 230.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company's stock valued at $52,819,000 after buying an additional 333,095 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its position in shares of Cardinal Health by 77.3% during the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company's stock worth $65,539,000 after acquiring an additional 258,541 shares during the period. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CAH. Citigroup raised 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. Bank of America upgraded Cardinal Health from a "neutral" rating to a "buy" rating and raised their price target for the company from $132.00 to $145.00 in a research note on Monday, January 6th. TD Cowen raised shares of Cardinal Health from a "hold" rating to a "buy" rating and upped their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Argus set a $148.00 target price on shares of Cardinal Health in a research report on Tuesday, February 4th. Finally, Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and increased their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $139.36.

Remove Ads

Cardinal Health Stock Up 2.2 %

Shares of Cardinal Health stock traded up $2.92 during trading on Thursday, reaching $136.90. The company's stock had a trading volume of 2,751,298 shares, compared to its average volume of 1,978,254. The company has a 50-day simple moving average of $128.16 and a two-hundred day simple moving average of $120.59. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.95. The company has a market cap of $33.07 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is presently 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.