Everence Capital Management Inc. Has $1.41 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Everence Capital Management Inc. lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 27.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,940 shares of the company’s stock after purchasing an additional 3,030 shares during the quarter. Everence Capital Management Inc.’s holdings in Cardinal Health were worth $1,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CAH. Cornerstone Wealth Management LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $209,000. Nordea Investment Management AB boosted its position in Cardinal Health by 50.5% during the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company’s stock worth $18,649,000 after acquiring an additional 61,933 shares during the period. Vest Financial LLC boosted its position in Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after acquiring an additional 38,769 shares during the period. Bellwether Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter worth about $6,290,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Cardinal Health by 30.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock worth $54,618,000 after acquiring an additional 126,668 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of CAH stock opened at $107.19 on Wednesday. The stock’s 50 day simple moving average is $109.45 and its 200 day simple moving average is $104.00. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 42.20, a PEG ratio of 1.03 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The business had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.32 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.5006 dividend. This represents a $2.00 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Thursday, March 28th. Cardinal Health’s dividend payout ratio is currently 78.74%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barclays assumed coverage on Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price objective for the company. Argus upgraded Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. TheStreet lowered Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Leerink Partnrs reiterated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Finally, UBS Group lifted their price target on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.07.

About Cardinal Health

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.