Strategic Financial Concepts LLC Takes $93,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Strategic Financial Concepts LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 76,428 shares of the company's stock, valued at approximately $93,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp grew its position in Cardinal Health by 4.6% during the 3rd 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 last quarter. Geode Capital Management LLC grew its position in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company's stock worth $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its position in Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company's stock worth $474,203,000 after purchasing an additional 191,568 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company's stock valued at $162,976,000 after acquiring an additional 33,388 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company's stock valued at $118,197,000 after acquiring an additional 346,362 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

CAH traded down $0.44 during midday trading on Friday, reaching $126.35. 1,620,302 shares of the company's stock were exchanged, compared to its average volume of 2,327,426. The stock has a market capitalization of $30.52 billion, a PE ratio of 23.57, a P/E/G ratio of 1.49 and a beta of 0.63. The business's 50-day moving average price is $122.85 and its 200 day moving average price is $116.41. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $132.84.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) 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%. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal 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 given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. UBS Group lifted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, StockNews.com downgraded shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a report on Sunday, November 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $136.87.

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.