Renaissance Group LLC Buys 259,122 Shares of Cardinal Health, Inc. (NYSE:CAH)

Renaissance Group LLC raised its position in Cardinal Health, Inc. (NYSE:CAH) by 4,375.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 265,044 shares of the company’s stock after buying an additional 259,122 shares during the quarter. Renaissance Group LLC’s holdings in Cardinal Health were worth $31,347,000 at the end of the most recent quarter.

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

Cardinal Health Price Performance

Shares of CAH opened at $125.74 on Tuesday. The company has a market cap of $30.37 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The firm has a 50-day moving average of $129.05 and a 200-day moving average of $121.80. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $139.50.

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, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

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 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 dividend yield of 1.61%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CAH shares. Citigroup lifted their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho increased their price objective on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, March 31st. Morgan Stanley boosted their price target on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating 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 data from MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $140.14.

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.