Lee Danner & Bass Inc. Takes $35,000 Position in Cardinal Health, Inc. (NYSE:CAH)

Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 295 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds have also made changes to their positions in the stock. Whittier Trust Co. increased its holdings in shares of Cardinal Health by 30.7% during the 4th quarter. Whittier Trust Co. now owns 1,729 shares of the company’s stock valued at $204,000 after acquiring an additional 406 shares during the last quarter. Magnetar Financial LLC acquired a new position in shares of Cardinal Health during the 4th quarter valued at about $10,494,000. Fiduciary Group LLC acquired a new position in shares of Cardinal Health during the 4th quarter valued at about $210,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Cardinal Health during the 4th quarter valued at about $82,000. Finally, Vinva Investment Management Ltd grew its holdings in Cardinal Health by 10.9% in the 4th quarter. Vinva Investment Management Ltd now owns 11,971 shares of the company’s stock valued at $1,412,000 after buying an additional 1,181 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Cardinal Health stock opened at $131.80 on Monday. The company has a market capitalization of $31.84 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $133.67. The business has a 50 day simple moving average of $127.35 and a 200 day simple moving average of $120.08.

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

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.53%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and raised their target price 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 on the stock. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $132.00 to $145.00 in a report on Monday, January 6th. Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Morgan Stanley raised their price objective on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $139.36.

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.