Cinctive Capital Management LP Increases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Cinctive Capital Management LP grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 353.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,122 shares of the company’s stock after purchasing an additional 112,333 shares during the period. Cardinal Health comprises about 0.9% of Cinctive Capital Management LP’s portfolio, making the stock its 20th biggest position. Cinctive Capital Management LP’s holdings in Cardinal Health were worth $17,045,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Public Sector Pension Investment Board lifted its holdings in Cardinal Health by 12.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 10,637 shares of the company’s stock worth $1,176,000 after buying an additional 1,200 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Cardinal Health in the 3rd quarter valued at about $202,000. Paloma Partners Management Co acquired a new position in shares of Cardinal Health during the third quarter worth about $283,000. Benjamin Edwards Inc. increased its stake in shares of Cardinal Health by 802.5% during the third quarter. Benjamin Edwards Inc. now owns 4,630 shares of the company’s stock worth $512,000 after buying an additional 4,117 shares during the period. Finally, Centiva Capital LP acquired a new stake in Cardinal Health in the third quarter valued at approximately $1,088,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Mizuho boosted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. Finally, Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $140.14.

Cardinal Health Stock Performance

Shares of Cardinal Health stock opened at $137.20 on Wednesday. The company has a market cap of $33.14 billion, a P/E ratio of 25.60, a PEG ratio of 1.49 and a beta of 0.66. The firm has a fifty day moving average of $128.78 and a two-hundred day moving average of $121.20. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $138.62.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.47%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Cardinal Health Company 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.