Summit X LLC Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

Summit X LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 15.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,688 shares of the company’s stock after purchasing an additional 362 shares during the period. Summit X LLC’s holdings in Cardinal Health were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. AGF Management Ltd. increased its holdings in Cardinal Health by 342.3% during the 4th quarter. AGF Management Ltd. now owns 26,108 shares of the company’s stock valued at $3,088,000 after purchasing an additional 20,205 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Cardinal Health by 16.0% during the 4th quarter. Citizens Financial Group Inc. RI now owns 2,773 shares of the company’s stock valued at $328,000 after purchasing an additional 382 shares during the period. Ranch Capital Advisors Inc. increased its holdings in Cardinal Health by 1.5% during the 4th quarter. Ranch Capital Advisors Inc. now owns 23,696 shares of the company’s stock valued at $2,803,000 after purchasing an additional 358 shares during the period. Independent Advisor Alliance increased its holdings in Cardinal Health by 10.8% during the 4th quarter. Independent Advisor Alliance now owns 17,534 shares of the company’s stock valued at $2,074,000 after purchasing an additional 1,713 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Cardinal Health by 15.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 59,669 shares of the company’s stock worth $7,057,000 after acquiring an additional 8,066 shares during the period. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Mizuho assumed 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. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Citigroup upped their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Trading Up 2.2 %

CAH stock opened at $126.87 on Thursday. The stock has a market capitalization of $30.65 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The stock’s 50 day simple moving average is $125.99 and its 200 day simple moving average is $119.14.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

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.