Lee Danner & Bass Inc. Invests $35,000 in Cardinal Health, Inc. (NYSE:CAH)

Lee Danner & Bass Inc. purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 295 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp grew its stake in shares of 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 purchasing an additional 627,253 shares in the last quarter. Geode Capital Management LLC grew 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 worth $633,298,000 after purchasing an additional 42,082 shares in the last quarter. Amundi grew its stake in shares of Cardinal Health by 5.5% in the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Cardinal Health by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.0 %

Shares of Cardinal Health stock opened at $131.80 on Monday. The stock has a 50-day moving average price of $127.35 and a 200 day moving average price of $120.08. The company has a market cap of $31.84 billion, a P/E ratio of 24.59, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $133.67.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CAH. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. 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. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

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.