Sivik Global Healthcare LLC Acquires 5,000 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sivik Global Healthcare LLC grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Cardinal Health makes up 3.1% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 11th largest holding. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $5,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Smith Group Asset Management LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at approximately $315,000. Robeco Institutional Asset Management B.V. lifted its stake in Cardinal Health by 4.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 972,060 shares of the company’s stock valued at $114,966,000 after acquiring an additional 39,767 shares in the last quarter. R Squared Ltd purchased a new position in Cardinal Health during the 4th quarter worth $103,000. Perigon Wealth Management LLC grew its stake in shares of Cardinal Health by 13.0% in the 4th quarter. Perigon Wealth Management LLC now owns 2,152 shares of the company’s stock worth $273,000 after acquiring an additional 247 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Cardinal Health by 11.3% during the fourth quarter. Blue Trust Inc. now owns 6,125 shares of the company’s stock valued at $677,000 after purchasing an additional 622 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Performance

NYSE CAH opened at $130.13 on Thursday. The company has a market capitalization of $31.49 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.57 and a beta of 0.63. The stock has a 50-day moving average of $121.90 and a 200 day moving average of $113.75. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $131.29.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price for the company. Wells Fargo & Company lifted their target price on Cardinal Health from $127.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research report on Tuesday, January 7th. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Four 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 a consensus target price of $135.21.

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.