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

Summit Financial LLC purchased a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,040 shares of the company's stock, valued at approximately $241,000.

Other hedge funds have also recently bought and sold shares of the company. Rothschild Investment LLC increased its position in Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after acquiring an additional 79 shares during the period. Private Trust Co. NA boosted its stake in shares of Cardinal Health by 11.0% in the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock valued at $110,000 after buying an additional 92 shares during the period. Checchi Capital Advisers LLC boosted its stake in shares of Cardinal Health by 2.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after buying an additional 93 shares during the period. TIAA Trust National Association grew its position in Cardinal Health by 4.5% during the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after buying an additional 94 shares in the last quarter. Finally, MWA Asset Management raised its holdings in Cardinal Health by 2.9% in the 4th quarter. MWA Asset Management now owns 3,324 shares of the company's stock valued at $393,000 after acquiring an additional 95 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 2.7 %

Shares of NYSE CAH traded down $3.57 during trading on Thursday, reaching $126.89. The company had a trading volume of 835,989 shares, compared to its average volume of 2,162,741. The stock has a market cap of $30.65 billion, a P/E ratio of 23.74, a PEG ratio of 1.49 and a beta of 0.61. The company's fifty day moving average price is $129.13 and its 200-day moving average price is $122.10. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $139.50.

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

Cardinal Health Announces Dividend

The company also recently declared 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 is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target 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. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Mizuho boosted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday, March 31st. Morgan Stanley raised their target price on Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Citigroup boosted their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $140.14.

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.