Sit Investment Associates Inc. Purchases 41,545 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sit Investment Associates Inc. grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 81.2% in the fourth quarter, HoldingsChannel reports. The fund owned 92,735 shares of the company’s stock after acquiring an additional 41,545 shares during the period. Sit Investment Associates Inc.’s holdings in Cardinal Health were worth $10,968,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC acquired a new position in Cardinal Health during the fourth quarter worth $26,000. Promus Capital LLC acquired a new stake in Cardinal Health in the 4th quarter valued at $30,000. Lee Danner & Bass Inc. bought a new stake in Cardinal Health during the 4th quarter worth about $35,000. Kentucky Trust Co acquired a new position in shares of Cardinal Health during the 4th quarter worth about $41,000. Finally, HHM Wealth Advisors LLC grew its holdings in shares of Cardinal Health by 57.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock valued at $47,000 after acquiring an additional 144 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Morgan Stanley increased their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Finally, Mizuho boosted their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.14.

Cardinal Health Stock Down 5.6 %

Cardinal Health stock opened at $129.37 on Friday. The company’s 50-day moving average price is $129.15 and its two-hundred day moving average price is $121.55. The stock has a market cap of $31.25 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $139.50.

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

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.56%. Cardinal Health’s payout ratio is presently 37.69%.

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.