Point72 Hong Kong Ltd Acquires 51,233 Shares of Cardinal Health, Inc. (NYSE:CAH)

Point72 Hong Kong Ltd lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 168.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,677 shares of the company’s stock after purchasing an additional 51,233 shares during the period. Point72 Hong Kong Ltd’s holdings in Cardinal Health were worth $9,660,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Rothschild Investment LLC grew its stake in Cardinal Health by 10.1% in the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock valued at $101,000 after buying an additional 79 shares during the last quarter. Private Trust Co. NA lifted its stake in Cardinal Health by 11.0% in the 4th quarter. Private Trust Co. NA now owns 930 shares of the company’s stock valued at $110,000 after purchasing an additional 92 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock valued at $411,000 after acquiring an additional 93 shares during the period. TIAA Trust National Association increased its position in Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock valued at $258,000 after acquiring an additional 94 shares during the period. Finally, MWA Asset Management increased its position in shares of Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after buying an additional 95 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Citigroup reiterated a “neutral” rating on shares of Cardinal Health in a report on Thursday, May 1st. Morgan Stanley lifted their price objective on shares of Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Bank of America lifted their price objective on shares of Cardinal Health from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, April 11th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.43.

Cardinal Health Price Performance

CAH stock opened at $148.55 on Thursday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $154.07. The stock has a market cap of $35.46 billion, a PE ratio of 27.71, a P/E/G ratio of 1.49 and a beta of 0.66. The firm has a 50 day simple moving average of $135.94 and a two-hundred day simple moving average of $127.06.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to analysts’ expectations of $55.33 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The firm’s revenue was up .0% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is a boost from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.38%. Cardinal Health’s dividend payout ratio is 31.83%.

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.