Raleigh Capital Management Inc. Has $55,000 Holdings in Cardinal Health, Inc. (NYSE:CAH)

Raleigh Capital Management Inc. increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 29.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 464 shares of the company’s stock after acquiring an additional 106 shares during the period. Raleigh Capital Management Inc.’s holdings in Cardinal Health were worth $55,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CAH. State Street Corp grew its holdings in shares of Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after acquiring an additional 627,253 shares in the last quarter. Geode Capital Management LLC boosted its position in Cardinal Health by 0.7% during the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the last quarter. Pacer Advisors Inc. grew its stake in Cardinal Health by 4.7% in the third quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Cardinal Health by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of Cardinal Health by 10.1% during the 2nd quarter. Brandes Investment Partners LP now owns 1,315,316 shares of the company’s stock worth $129,439,000 after purchasing an additional 121,107 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH opened at $129.38 on Friday. The stock has a fifty day moving average of $121.15 and a 200-day moving average of $112.70. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $129.68. The company has a market capitalization of $31.31 billion, a P/E ratio of 25.17, a P/E/G ratio of 1.55 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities research analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were issued a $0.5056 dividend. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.56%. Cardinal Health’s dividend payout ratio is presently 39.30%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CAH shares. Citigroup boosted their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Barclays boosted their price objective on shares of Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company upgraded Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $101.00 to $127.00 in a report on Friday, December 13th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.29.

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.