Summit Securities Group LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Summit Securities Group LLC acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) during the fourth quarter, Holdings Channel reports. The firm acquired 5,900 shares of the company’s stock, valued at approximately $698,000.

Several other hedge funds have also recently bought and sold shares of the stock. Schroder Investment Management Group grew its position in shares of Cardinal Health by 31.6% during the 4th quarter. Schroder Investment Management Group now owns 70,191 shares of the company’s stock worth $8,277,000 after buying an additional 16,845 shares during the period. Cambridge Financial Group Inc. bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $9,150,000. Allstate Corp bought a new position in Cardinal Health in the 4th quarter valued at about $844,000. DnB Asset Management AS boosted its position in shares of Cardinal Health by 9.6% in the fourth quarter. DnB Asset Management AS now owns 43,475 shares of the company’s stock valued at $5,142,000 after acquiring an additional 3,798 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in Cardinal Health by 11.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 51,001 shares of the company’s stock valued at $6,032,000 after acquiring an additional 5,037 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the subject of several research analyst reports. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Bank of America upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Citigroup increased their price target on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, Mizuho assumed coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Trading Down 0.2 %

Shares of NYSE CAH opened at $136.43 on Friday. The firm’s 50-day moving average price is $128.36 and its 200-day moving average price is $120.80. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $137.18. The stock has a market capitalization of $32.96 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating 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%. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company 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 $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s 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.