GAMMA Investing LLC Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

GAMMA Investing LLC boosted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 53.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,455 shares of the company’s stock after acquiring an additional 1,898 shares during the quarter. GAMMA Investing LLC’s holdings in Cardinal Health were worth $645,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State Street Corp lifted its position in Cardinal Health by 4.6% in the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock worth $474,203,000 after purchasing an additional 191,568 shares during the period. ProShare Advisors LLC boosted its stake in shares of Cardinal Health by 5.1% during the 2nd quarter. ProShare Advisors LLC now owns 1,759,299 shares of the company’s stock worth $172,974,000 after purchasing an additional 85,247 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Cardinal Health by 7.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,683,447 shares of the company’s stock valued at $165,517,000 after purchasing an additional 111,137 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group boosted their price objective on Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley increased their target price on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Argus boosted their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus target price of $127.50.

Cardinal Health Stock Performance

Shares of CAH opened at $119.30 on Friday. The company has a 50 day moving average price of $118.80 and a 200-day moving average price of $110.41. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $126.23. The stock has a market capitalization of $28.87 billion, a PE ratio of 23.21, a PEG ratio of 1.47 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. Cardinal Health’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Equities research analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

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.