4,000 Shares in Cardinal Health, Inc. $CAH Purchased by FNY Investment Advisers LLC

FNY Investment Advisers LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,000 shares of the company’s stock, valued at approximately $822,000.

Other hedge funds have also made changes to their positions in the company. SJS Investment Consulting Inc. grew its position in Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Aventura Private Wealth LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at $25,000. Jones Financial Companies Lllp grew its holdings in shares of Cardinal Health by 198.3% during 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 in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Cardinal Health in the third quarter worth $31,000. Finally, Turning Point Benefit Group Inc. purchased a new stake in shares of Cardinal Health during the third quarter worth $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE CAH opened at $214.00 on Friday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The stock’s 50-day moving average is $217.52 and its two-hundred day moving average is $197.78. The firm has a market cap of $50.36 billion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.37 and a beta of 0.64.

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

Cardinal Health Dividend Announcement

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

Wall Street Analyst Weigh In

CAH has been the topic of several research reports. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research report on Monday, March 9th. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Jefferies Financial Group increased their price objective on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Finally, Wells Fargo & Company lifted their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

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.