Birch Capital Management LLC Has $3.41 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Birch Capital Management LLC raised its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,822 shares of the company’s stock after acquiring an additional 429 shares during the quarter. Cardinal Health comprises approximately 1.7% of Birch Capital Management LLC’s holdings, making the stock its 23rd largest position. Birch Capital Management LLC’s holdings in Cardinal Health were worth $3,409,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CAH. Eastern Bank acquired a new stake in shares of Cardinal Health in the third quarter worth $25,000. Frazier Financial Advisors LLC boosted its holdings in Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Cardinal Health during the 2nd quarter worth about $29,000. Finally, AM Squared Ltd bought a new stake in Cardinal Health during the 3rd quarter valued at approximately $33,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH stock traded up $2.27 on Tuesday, reaching $121.90. 1,038,763 shares of the stock were exchanged, compared to its average volume of 1,738,958. The stock has a 50 day moving average price of $118.98 and a 200 day moving average price of $110.56. The stock has a market cap of $29.50 billion, a PE ratio of 23.72, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.23.

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 company had revenue of $52.28 billion for 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 revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a dividend yield of 1.66%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CAH shares. Argus upped their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. UBS Group raised their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised Cardinal Health from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $101.00 to $127.00 in a report on Friday, December 13th. Finally, Barclays boosted their price target on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.77.

About Cardinal Health

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.