Empirical Asset Management LLC Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Empirical Asset Management LLC purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,266 shares of the company’s stock, valued at approximately $859,000.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Cardinal Health by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,237,338 shares of the company’s stock valued at $121,664,000 after acquiring an additional 69,934 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Cardinal Health by 7.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 26,078 shares of the company’s stock valued at $2,564,000 after purchasing an additional 1,761 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Cardinal Health by 1.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 24,580 shares of the company’s stock worth $2,396,000 after buying an additional 316 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Cardinal Health by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 11,442 shares of the company’s stock worth $1,125,000 after buying an additional 103 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in Cardinal Health by 19.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 9,616 shares of the company’s stock valued at $945,000 after buying an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CAH. Mizuho started coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Citigroup boosted their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Finally, Morgan Stanley raised their price target on Cardinal Health from $127.00 to $136.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $133.29.

Check Out Our Latest Stock Analysis on Cardinal Health

Cardinal Health Stock Down 0.6 %

Shares of CAH stock opened at $126.27 on Friday. The firm has a market cap of $30.56 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.48 and a beta of 0.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.27. The stock has a 50-day moving average price of $120.75 and a 200 day moving average price of $111.92.

Cardinal Health (NYSE:CAHGet Free Report) last issued its quarterly earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The company had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same quarter in the previous year, the company earned $1.73 EPS. Cardinal Health’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.60%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Cardinal Health Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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