Courier Capital LLC Makes New Investment in Cardinal Health, Inc. (NYSE:CAH)

Courier Capital LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,140 shares of the company’s stock, valued at approximately $216,000.

Other large investors have also bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new stake in Cardinal Health in the fourth quarter worth $209,000. Nordea Investment Management AB grew its holdings in Cardinal Health by 50.5% in the fourth quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after purchasing an additional 61,933 shares during the period. Vest Financial LLC grew its holdings in Cardinal Health by 15.9% in the fourth quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after purchasing an additional 38,769 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in Cardinal Health by 2,761.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 538,038 shares of the company’s stock worth $50,882,000 after purchasing an additional 519,238 shares during the period. Finally, Bellwether Advisors LLC acquired a new stake in Cardinal Health in the fourth quarter worth $6,290,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of CAH stock opened at $112.58 on Thursday. The firm has a market cap of $27.38 billion, a price-to-earnings ratio of 44.32, a P/E/G ratio of 1.08 and a beta of 0.68. Cardinal Health, Inc. has a 52 week low of $71.29 and a 52 week high of $116.04. The firm’s 50-day simple moving average is $108.39 and its two-hundred day simple moving average is $101.85.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Cardinal Health, Inc. will post 7.29 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be given a $0.5006 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is currently 78.74%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAH. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. UBS Group lifted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Barclays started coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

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.