Clear Harbor Asset Management LLC Acquires New Position in Cardinal Health, Inc. (NYSE:CAH)

Clear Harbor Asset Management LLC bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,734 shares of the company’s stock, valued at approximately $442,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Cardinal Health by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock worth $633,298,000 after acquiring an additional 42,082 shares during the period. CHURCHILL MANAGEMENT Corp boosted its position in Cardinal Health by 1.5% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock worth $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cardinal Health by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC purchased a new position in shares of Cardinal Health in the third quarter valued at $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Cardinal Health during the 3rd quarter worth $1,691,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Barclays increased their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group increased their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $101.00 to $127.00 in a research report on Friday, December 13th. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.29.

Cardinal Health Price Performance

CAH opened at $127.81 on Wednesday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $127.89. The business has a 50-day moving average of $120.92 and a two-hundred day moving average of $112.47. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.54 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm 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 was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.73 earnings per share. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is presently 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.