Stevens Capital Management LP Acquires New Stake in Cardinal Health, Inc. (NYSE:CAH)

Stevens Capital Management LP acquired a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,239 shares of the company's stock, valued at approximately $265,000.

Several other hedge funds also recently made changes to their positions in CAH. Thrivent Financial for Lutherans grew its stake in Cardinal Health by 23.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company's stock worth $1,406,000 after buying an additional 2,451 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Cardinal Health during the third quarter worth approximately $214,000. Charles Schwab Investment Management Inc. grew its position in shares of Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock worth $162,976,000 after acquiring an additional 33,388 shares during the last quarter. Cerity Partners LLC raised its position in Cardinal Health by 35.9% in the 3rd quarter. Cerity Partners LLC now owns 32,964 shares of the company's stock valued at $3,643,000 after purchasing an additional 8,707 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in Cardinal Health during the 3rd quarter worth $1,008,000. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Down 0.2 %

Shares of NYSE:CAH traded down $0.22 during trading on Friday, hitting $136.43. 1,873,170 shares of the stock were exchanged, compared to its average volume of 2,104,261. The company has a market cap of $32.96 billion, a PE ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66. The company has a fifty day moving average price of $128.36 and a two-hundred day moving average price of $120.76. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $139.81.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend 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%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. TD Cowen upgraded 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 research note on Wednesday, January 8th. 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. Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 4th. Argus set a $148.00 target price on Cardinal Health in a report on Tuesday, February 4th. Finally, Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $139.36.

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.