Ritholtz Wealth Management Buys 1,339 Shares of Cardinal Health, Inc. (NYSE:CAH)

Ritholtz Wealth Management grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,074 shares of the company’s stock after acquiring an additional 1,339 shares during the quarter. Ritholtz Wealth Management’s holdings in Cardinal Health were worth $5,249,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CAH. State Street Corp raised its stake in shares of Cardinal Health by 2.1% in the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock worth $1,246,751,000 after purchasing an additional 457,777 shares during the last quarter. Invesco Ltd. increased its position in Cardinal Health by 9.0% during the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after acquiring an additional 511,826 shares during the last quarter. Geode Capital Management LLC increased its position in Cardinal Health by 0.5% during the first quarter. Geode Capital Management LLC now owns 5,396,988 shares of the company’s stock valued at $406,560,000 after acquiring an additional 28,250 shares during the last quarter. Morgan Stanley increased its position in Cardinal Health by 3.6% during the fourth quarter. Morgan Stanley now owns 4,594,184 shares of the company’s stock valued at $353,155,000 after acquiring an additional 161,667 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Cardinal Health by 82.2% during the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock valued at $358,390,000 after acquiring an additional 1,862,291 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on CAH shares. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. UBS Group upped their price objective on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Wells Fargo & Company began coverage on Cardinal Health in a research note on Thursday, December 14th. They issued an “underweight” rating and a $96.00 price objective for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. Finally, SVB Leerink began coverage on Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Trading Down 0.6 %

Shares of Cardinal Health stock opened at $111.89 on Friday. The firm has a market cap of $27.22 billion, a PE ratio of 44.05, a PEG ratio of 1.08 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $72.52 and a 12 month high of $116.04. The stock has a 50 day moving average of $108.50 and a 200 day moving average of $101.92.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. As a group, equities research analysts forecast that Cardinal Health, Inc. will post 7.29 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

Cardinal Health Profile

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.