Cerity Partners LLC Has $1.87 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Cerity Partners LLC grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 35.7% in the fourth quarter, HoldingsChannel reports. The fund owned 18,515 shares of the company’s stock after acquiring an additional 4,875 shares during the period. Cerity Partners LLC’s holdings in Cardinal Health were worth $1,867,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CAH. Norges Bank acquired a new position in Cardinal Health during the 4th quarter worth approximately $220,230,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $215,893,000. Ameriprise Financial Inc. boosted its holdings in shares of Cardinal Health by 82.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after buying an additional 1,862,291 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Cardinal Health by 677.5% in the 1st quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock valued at $101,986,000 after buying an additional 1,177,066 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of Cardinal Health by 68.3% in the 4th quarter. Man Group plc now owns 1,477,702 shares of the company’s stock valued at $113,591,000 after buying an additional 599,698 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $108.19 on Friday. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 42.59, a PEG ratio of 1.03 and a beta of 0.68. The business’s fifty day moving average price is $109.59 and its two-hundred day moving average price is $104.18. Cardinal Health, Inc. has a fifty-two week low of $77.56 and a fifty-two week high of $116.04.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.26. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.32 EPS. Research analysts expect that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CAH shares. UBS Group increased their price objective on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Barclays started coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price objective for the company. SVB Leerink started coverage on Cardinal Health in a report on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.07.

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.