35,360 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,360 shares of the company’s stock, valued at approximately $3,908,000. Cardinal Health accounts for about 1.3% of Neo Ivy Capital Management’s holdings, making the stock its 8th largest holding.

Other large investors have also recently made changes to their positions in the company. Eastern Bank purchased a new stake in shares of Cardinal Health during the third quarter worth approximately $25,000. Frazier Financial Advisors LLC increased its stake in Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the last quarter. Cultivar Capital Inc. purchased a new position in Cardinal Health in the second quarter valued at approximately $27,000. Hara Capital LLC purchased a new position in Cardinal Health in the third quarter valued at approximately $31,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Cardinal Health in the second quarter valued at approximately $29,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $120.41 on Wednesday. The stock has a fifty day moving average price of $116.71 and a 200 day moving average price of $108.07. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $126.23. The company has a market cap of $29.14 billion, a PE ratio of 23.43, a P/E/G ratio of 1.53 and a beta of 0.61.

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

Cardinal Health Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is currently 39.30%.

Analyst Upgrades and Downgrades

CAH has been the topic of several recent analyst reports. Barclays increased their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Robert W. Baird increased their price target on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $124.58.

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.