Citigroup Inc. Purchases 4,962 Shares of Cardinal Health, Inc. $CAH

Citigroup Inc. raised its position in Cardinal Health, Inc. (NYSE:CAH) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 401,754 shares of the company’s stock after purchasing an additional 4,962 shares during the quarter. Citigroup Inc. owned 0.17% of Cardinal Health worth $63,059,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its holdings in Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp increased its position in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares during the period. Carnegie Investment Counsel bought a new position in shares of Cardinal Health during the second quarter valued at $357,000. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Cardinal Health by 12.7% during the second quarter. Focus Partners Advisor Solutions LLC now owns 7,106 shares of the company’s stock worth $1,193,000 after purchasing an additional 803 shares during the period. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of Cardinal Health in the second quarter worth $1,512,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group lifted their target price on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. UBS Group set a $260.00 price objective on Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Morgan Stanley set a $255.00 target price on Cardinal Health in a report on Friday, February 6th. Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Stock Up 0.2%

Shares of CAH stock opened at $224.83 on Tuesday. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $230.81. The firm has a 50 day moving average of $211.88 and a 200-day moving average of $185.40. The company has a market cap of $52.91 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share. Analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

Cardinal Health Company Profile

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.