Simplify Asset Management Inc. Takes $718,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Simplify Asset Management Inc. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,101 shares of the company’s stock, valued at approximately $718,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cardinal Health by 0.7% during the third 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 in the last quarter. Amundi boosted its position in Cardinal Health by 5.5% during the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after purchasing an additional 110,605 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Cardinal Health by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock valued at $179,653,000 after purchasing an additional 44,386 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Cardinal Health by 47.9% in the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $131.80 on Friday. The business has a fifty day simple moving average of $127.35 and a 200 day simple moving average of $120.04. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $133.67. The company has a market capitalization of $31.84 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 37.69%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAH. Wells Fargo & Company increased their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Mizuho initiated coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective for the company. Evercore ISI upgraded 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 note on Tuesday, January 7th. Argus set a $148.00 target price on shares of Cardinal Health in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price target on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

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.