Stevens Capital Management LP Invests $265,000 in Cardinal Health, Inc. (NYSE:CAH)

Stevens Capital Management LP acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,239 shares of the company’s stock, valued at approximately $265,000.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares during the period. Geode Capital Management LLC boosted its holdings in Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Amundi grew its position in Cardinal Health by 5.5% in the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after acquiring an additional 110,605 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cardinal Health by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Argus set a $148.00 price target on Cardinal Health in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Price Performance

NYSE CAH opened at $133.25 on Tuesday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $133.67. The company has a market capitalization of $32.19 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The firm’s fifty day moving average price is $127.60 and its 200 day moving average price is $120.24.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

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.