Two Sigma Advisers LP Purchases 346,362 Shares of Cardinal Health, Inc. (NYSE:CAH)

Two Sigma Advisers LP raised its holdings in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 47.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,069,462 shares of the company's stock after purchasing an additional 346,362 shares during the period. Two Sigma Advisers LP owned approximately 0.44% of Cardinal Health worth $118,197,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAH. Eastern Bank bought a new stake in Cardinal Health in the 3rd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Cardinal Health in the 2nd quarter valued at about $27,000. Frazier Financial Advisors LLC boosted its holdings in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock valued at $28,000 after purchasing an additional 104 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter valued at about $29,000. Finally, Hara Capital LLC bought a new stake in Cardinal Health in the 3rd quarter valued at about $31,000. Institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Down 0.2 %

CAH traded down $0.20 during trading on Friday, reaching $122.64. 827,717 shares of the company's stock were exchanged, compared to its average volume of 2,099,985. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23. The stock has a market capitalization of $29.68 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 1.54 and a beta of 0.61. The firm has a fifty day moving average price of $116.03 and a two-hundred day moving average price of $107.39.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same period in the previous year, the firm posted $1.73 EPS. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health's dividend payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CAH. Morgan Stanley boosted their target price on shares of Cardinal Health from $119.00 to $127.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. UBS Group boosted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Barclays boosted their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the company an "underweight" rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a "hold" rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $124.58.

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.