RMB Capital Management LLC bought a new stake in shares of Cardinal Health Inc (NYSE:CAH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,721 shares of the company’s stock, valued at approximately $1,816,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Cardinal Health during the third quarter worth approximately $390,000. Wells Fargo & Company MN lifted its position in shares of Cardinal Health by 39.1% during the third quarter. Wells Fargo & Company MN now owns 1,251,546 shares of the company’s stock worth $67,584,000 after purchasing an additional 352,034 shares in the last quarter. Dupont Capital Management Corp lifted its position in shares of Cardinal Health by 127.9% during the third quarter. Dupont Capital Management Corp now owns 8,730 shares of the company’s stock worth $471,000 after purchasing an additional 4,900 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Cardinal Health by 26.7% during the third quarter. Commonwealth Equity Services LLC now owns 55,407 shares of the company’s stock worth $2,991,000 after purchasing an additional 11,677 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Cardinal Health by 114.1% during the third quarter. SG Americas Securities LLC now owns 86,199 shares of the company’s stock worth $4,655,000 after purchasing an additional 45,943 shares in the last quarter. 86.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CAH opened at $50.27 on Friday. Cardinal Health Inc has a fifty-two week low of $42.17 and a fifty-two week high of $71.58. The company has a market capitalization of $14.70 billion, a P/E ratio of 10.05, a price-to-earnings-growth ratio of 1.57 and a beta of 1.17. The company has a current ratio of 1.05, a quick ratio of 0.51 and a debt-to-equity ratio of 1.26.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a $0.4763 dividend. The ex-dividend date is Friday, March 29th. This represents a $1.91 annualized dividend and a yield of 3.79%. Cardinal Health’s dividend payout ratio (DPR) is presently 38.20%.
Several brokerages recently weighed in on CAH. UBS Group began coverage on shares of Cardinal Health in a report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 price objective on the stock. Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. ValuEngine upgraded shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a report on Friday, February 8th. Finally, Morgan Stanley increased their price objective on shares of Cardinal Health from $40.00 to $50.00 and gave the company an “underweight” rating in a report on Monday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Cardinal Health currently has a consensus rating of “Hold” and an average price target of $57.90.
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Cardinal Health Company Profile
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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