State of Tennessee Department of Treasury Buys 59,055 Shares of Cardinal Health, Inc. (NYSE:CAH)

State of Tennessee Department of Treasury raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 43.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,491 shares of the company’s stock after acquiring an additional 59,055 shares during the quarter. State of Tennessee Department of Treasury owned approximately 0.08% of Cardinal Health worth $23,002,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Cyrus J. Lawrence LLC bought a new position in Cardinal Health in the 4th quarter valued at $26,000. Promus Capital LLC bought a new position in shares of Cardinal Health in the fourth quarter valued at about $30,000. Lee Danner & Bass Inc. acquired a new position in Cardinal Health during the 4th quarter worth about $35,000. Kentucky Trust Co bought a new stake in Cardinal Health during the 4th quarter worth about $41,000. Finally, HHM Wealth Advisors LLC increased its position in 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. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $133.68 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $139.50. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.49 and a beta of 0.61. The company’s 50 day simple moving average is $130.24 and its 200 day simple moving average is $123.54.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a $0.5056 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.51%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Analyst Ratings Changes

CAH has been the topic of a number of research reports. Argus set a $148.00 price target on shares of Cardinal Health in a research note on Tuesday, February 4th. TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

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.