FNY Investment Advisers LLC Invests $822,000 in Cardinal Health, Inc. $CAH

FNY Investment Advisers LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 4,000 shares of the company’s stock, valued at approximately $822,000.

Several other institutional investors also recently added to or reduced their stakes in CAH. Redhawk Wealth Advisors Inc. boosted its position in shares of Cardinal Health by 0.5% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 9,255 shares of the company’s stock valued at $1,902,000 after acquiring an additional 48 shares during the period. Latitude Advisors LLC raised its stake in Cardinal Health by 2.1% during the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after purchasing an additional 53 shares during the last quarter. Barnes Dennig Private Wealth Management LLC boosted its holdings in Cardinal Health by 38.7% in the 4th quarter. Barnes Dennig Private Wealth Management LLC now owns 190 shares of the company’s stock valued at $39,000 after purchasing an additional 53 shares during the period. MFA Wealth Services increased its holdings in shares of Cardinal Health by 2.3% during the 3rd quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock worth $391,000 after purchasing an additional 55 shares during the period. Finally, Moody National Bank Trust Division raised its position in shares of Cardinal Health by 2.2% during the fourth quarter. Moody National Bank Trust Division now owns 2,696 shares of the company’s stock valued at $554,000 after buying an additional 57 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Robert W. Baird set a $252.00 price objective on Cardinal Health in a research report on Friday, February 6th. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research report on Monday, March 9th. Zacks Research raised shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company increased their price objective on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Trading Up 0.9%

CAH stock opened at $214.00 on Friday. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60. The business’s 50 day moving average is $217.52 and its 200-day moving average is $197.78. The firm has a market cap of $50.36 billion, a P/E ratio of 30.79, a P/E/G ratio of 1.37 and a beta of 0.64.

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

Cardinal Health Dividend Announcement

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

Cardinal Health 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.