Simplify Asset Management Inc. Invests $718,000 in Cardinal Health, Inc. (NYSE:CAH)

Simplify Asset Management Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,101 shares of the company’s stock, valued at approximately $718,000.

Several other institutional investors have also added to or reduced their stakes in the company. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health in the 4th quarter valued at $26,000. Promus Capital LLC bought a new position in Cardinal Health in the fourth quarter valued at about $30,000. Lee Danner & Bass Inc. acquired a new position in Cardinal Health during the fourth quarter worth about $35,000. Kentucky Trust Co bought a new position in shares of Cardinal Health in the fourth quarter worth about $41,000. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after acquiring an additional 144 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price for the company. Finally, Wells Fargo & Company lifted 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. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Stock Performance

NYSE:CAH opened at $131.80 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $133.67. The company has a 50 day simple moving average of $127.35 and a two-hundred day simple moving average of $120.04. The company has a market capitalization of $31.84 billion, a PE ratio of 24.59, a P/E/G ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is 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.