Corient Private Wealth LLC Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

Corient Private Wealth LLC lifted its position in Cardinal Health, Inc. (NYSE:CAH) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 91,690 shares of the company’s stock after purchasing an additional 617 shares during the period. Corient Private Wealth LLC’s holdings in Cardinal Health were worth $10,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Promus Capital LLC purchased a new position in Cardinal Health during the fourth quarter valued at $30,000. Kentucky Trust Co purchased a new position in Cardinal Health during the fourth quarter valued at $41,000. HHM Wealth Advisors LLC lifted its position in Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after purchasing an additional 144 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in Cardinal Health by 29.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after purchasing an additional 106 shares in the last quarter. Finally, Quarry LP lifted its position in Cardinal Health by 541.7% during the third quarter. Quarry LP now owns 616 shares of the company’s stock valued at $68,000 after purchasing an additional 520 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Trading Up 0.5 %

Shares of CAH stock opened at $132.09 on Thursday. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $132.84. The stock’s 50-day moving average price is $126.94 and its 200-day moving average price is $119.78. The stock has a market capitalization of $31.91 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) 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%. As a group, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on CAH. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Argus set a $148.00 price objective on Cardinal Health in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price 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.