Summit Securities Group LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Summit Securities Group LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,900 shares of the company's stock, valued at approximately $698,000.

A number of other hedge funds also recently bought and sold shares of the company. Schroder Investment Management Group increased its stake in Cardinal Health by 31.6% in the 4th quarter. Schroder Investment Management Group now owns 70,191 shares of the company's stock worth $8,277,000 after buying an additional 16,845 shares in the last quarter. Cambridge Financial Group Inc. purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $9,150,000. Allstate Corp bought a new stake in Cardinal Health during the 4th quarter valued at approximately $844,000. DnB Asset Management AS boosted its stake in Cardinal Health by 9.6% in the 4th quarter. DnB Asset Management AS now owns 43,475 shares of the company's stock worth $5,142,000 after purchasing an additional 3,798 shares during the period. Finally, Orion Portfolio Solutions LLC grew its holdings in Cardinal Health by 11.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 51,001 shares of the company's stock valued at $6,032,000 after buying an additional 5,037 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

CAH has been the subject of several research analyst reports. Mizuho raised their price target on Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a report on Monday. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 price target on the stock in a research note on Tuesday, January 7th. Bank of America upgraded Cardinal Health from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Finally, Morgan Stanley increased their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $140.14.

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Cardinal Health Stock Performance

Shares of NYSE:CAH traded down $2.10 during midday trading on Thursday, reaching $136.57. 1,178,872 shares of the company's stock traded hands, compared to its average volume of 2,379,641. The company has a fifty day simple moving average of $128.98 and a two-hundred day simple moving average of $121.33. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $139.50. The company has a market cap of $32.99 billion, a P/E ratio of 25.48, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.48%. Cardinal Health's dividend payout ratio (DPR) is currently 37.69%.

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.