FNY Investment Advisers LLC Makes New $94,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

FNY Investment Advisers LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 800 shares of the company’s stock, valued at approximately $94,000.

Other large investors have also recently made changes to their positions in the company. Wedmont Private Capital raised its holdings in Cardinal Health by 3.5% in the 4th quarter. Wedmont Private Capital now owns 3,828 shares of the company’s stock valued at $465,000 after acquiring an additional 131 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Cardinal Health by 4.4% in the 4th quarter. Brookstone Capital Management now owns 9,125 shares of the company’s stock worth $1,079,000 after acquiring an additional 381 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Cardinal Health during the 4th quarter worth $209,000. Czech National Bank boosted its position in shares of Cardinal Health by 5.6% during the 4th quarter. Czech National Bank now owns 52,473 shares of the company’s stock valued at $6,206,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Graypoint LLC grew its holdings in shares of Cardinal Health by 76.8% in the fourth quarter. Graypoint LLC now owns 4,208 shares of the company’s stock valued at $498,000 after purchasing an additional 1,828 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CAH has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upped their price target on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, Bank of America raised 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 research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average price target of $133.29.

Cardinal Health Stock Performance

NYSE CAH opened at $124.51 on Thursday. The firm has a market cap of $30.13 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.47 and a beta of 0.63. The firm has a 50 day simple moving average of $120.28 and a 200-day simple moving average of $111.41. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23.

Cardinal Health (NYSE:CAH) last posted 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. The business 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%. The company’s quarterly revenue 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 analysts predict that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

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.