Columbus Macro LLC Has $8.03 Million Stock Position in Cardinal Health, Inc. $CAH

Columbus Macro LLC lifted its position in Cardinal Health, Inc. (NYSE:CAH) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,061 shares of the company’s stock after buying an additional 2,532 shares during the period. Columbus Macro LLC’s holdings in Cardinal Health were worth $8,027,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Aventura Private Wealth LLC bought a new position in Cardinal Health during the fourth quarter worth about $25,000. SJS Investment Consulting Inc. increased its holdings in shares of Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Barnes Dennig Private Wealth Management LLC raised its position in shares of Cardinal Health by 38.7% during the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock worth $39,000 after purchasing an additional 53 shares during the period. JPL Wealth Management LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at about $31,000. Finally, Turning Point Benefit Group Inc. bought a new position in shares of Cardinal Health during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho increased their target price on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Argus upped their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Robert W. Baird set a $252.00 price objective on shares of Cardinal Health in a report on Friday, February 6th. Finally, Wells Fargo & Company upped their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $206.61 on Monday. The stock has a 50 day moving average price of $217.41 and a 200 day moving average price of $196.77. The stock has a market capitalization of $48.62 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 1.33 and a beta of 0.65. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $233.60.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. The business’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.93 EPS. As a group, research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 29.35%.

Cardinal Health Company Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.