Steward Partners Investment Advisory LLC Grows Position in Cardinal Health, Inc. (NYSE:CAH)

Steward Partners Investment Advisory LLC raised its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 249.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,104 shares of the company's stock after acquiring an additional 7,930 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Cardinal Health were worth $1,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Van ECK Associates Corp grew its stake in shares of Cardinal Health by 4.9% during the third quarter. Van ECK Associates Corp now owns 31,996 shares of the company's stock worth $3,581,000 after purchasing an additional 1,507 shares in the last quarter. Graypoint LLC lifted its holdings in Cardinal Health by 6.9% during the 3rd quarter. Graypoint LLC now owns 2,380 shares of the company's stock worth $263,000 after buying an additional 154 shares during the last quarter. Fiera Capital Corp purchased a new stake in Cardinal Health during the 3rd quarter worth about $507,000. Assetmark Inc. boosted its position in shares of Cardinal Health by 25.8% during the 3rd quarter. Assetmark Inc. now owns 37,561 shares of the company's stock worth $4,151,000 after acquiring an additional 7,692 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in shares of Cardinal Health by 7.5% in the 3rd quarter. Atria Investments Inc now owns 12,810 shares of the company's stock valued at $1,416,000 after acquiring an additional 899 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $126.40 on Monday. The stock's 50 day moving average price is $125.58 and its 200 day moving average price is $118.88. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84. The company has a market cap of $30.53 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Remove Ads

Cardinal Health (NYSE:CAH - Get Free Report) last posted 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 net margin of 0.59% and a negative return on equity of 59.57%. On average, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS 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 given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. Cardinal Health's payout ratio is 37.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CAH shares. 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. Morgan Stanley upped their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and lifted their price target for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and upped their price objective for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.36.

Cardinal Health 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.