GAMMA Investing LLC Acquires Shares of 1,233 Cardinal Health, Inc. (NYSE:CAH)

GAMMA Investing LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,233 shares of the company’s stock, valued at approximately $135,000.

A number of other large investors also recently modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $209,000. Nordea Investment Management AB boosted its holdings in shares of Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock valued at $18,649,000 after buying an additional 61,933 shares in the last quarter. Vest Financial LLC boosted its holdings in shares of Cardinal Health by 15.9% in the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock valued at $28,470,000 after buying an additional 38,769 shares in the last quarter. Bellwether Advisors LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $6,290,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Cardinal Health by 30.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock valued at $54,618,000 after buying an additional 126,668 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.6 %

Shares of CAH opened at $103.21 on Friday. The company has a 50-day simple moving average of $109.51 and a 200-day simple moving average of $104.76. The company has a market capitalization of $25.10 billion, a PE ratio of 40.63, a P/E/G ratio of 1.05 and a beta of 0.68. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were issued a $0.5006 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Cardinal Health’s dividend payout ratio is presently 78.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CAH. StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. UBS Group increased their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Barclays started coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. Finally, SVB Leerink started coverage on shares of Cardinal Health in a research note on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.07.

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.