Burns Matteson Capital Management LLC Boosts Holdings in Cardinal Health, Inc. $CAH

Burns Matteson Capital Management LLC lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 182.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,403 shares of the company’s stock after buying an additional 3,492 shares during the period. Burns Matteson Capital Management LLC’s holdings in Cardinal Health were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAH. SJS Investment Consulting Inc. grew its position in Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the period. Aventura Private Wealth LLC purchased a new stake in Cardinal Health in the fourth quarter valued at $25,000. Jones Financial Companies Lllp raised its position in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $31,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 2.4%

CAH opened at $211.27 on Wednesday. The stock’s 50-day moving average price is $217.30 and its 200 day moving average price is $197.56. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $233.60. The firm has a market cap of $49.71 billion, a price-to-earnings ratio of 30.40, a PEG ratio of 1.33 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.Cardinal Health’s revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.93 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen raised their price objective on Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Jefferies Financial Group lifted their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Barclays boosted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $245.67.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.