Cohen & Steers Inc. Acquires 116 Shares of Cardinal Health, Inc. (NYSE:CAH)

Cohen & Steers Inc. raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 5.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,281 shares of the company’s stock after buying an additional 116 shares during the quarter. Cohen & Steers Inc.’s holdings in Cardinal Health were worth $270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Cardinal Health by 35.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 32,520 shares of the company’s stock worth $3,871,000 after buying an additional 8,471 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after acquiring an additional 3,576 shares during the last quarter. Consolidated Planning Corp lifted its holdings in Cardinal Health by 40.0% during the fourth quarter. Consolidated Planning Corp now owns 8,926 shares of the company’s stock worth $1,056,000 after acquiring an additional 2,552 shares during the period. Flputnam Investment Management Co. boosted its position in Cardinal Health by 1.8% in the fourth quarter. Flputnam Investment Management Co. now owns 180,586 shares of the company’s stock worth $21,358,000 after purchasing an additional 3,148 shares during the last quarter. Finally, Patton Albertson Miller Group LLC bought a new position in Cardinal Health in the 4th quarter valued at $258,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

CAH stock opened at $134.25 on Wednesday. The company has a market cap of $32.43 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 1.49 and a beta of 0.61. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.50. The business’s 50-day moving average is $129.62 and its two-hundred day moving average is $122.74.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities analysts predict 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 was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.5056 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.51%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Morgan Stanley lifted their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Argus set a $148.00 target price on Cardinal Health in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. upped their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $140.86.

Cardinal Health Company 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.