Balyasny Asset Management L.P. purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 337,452 shares of the company's stock, valued at approximately $39,910,000. Balyasny Asset Management L.P. owned about 0.14% of Cardinal Health at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $26,000. Promus Capital LLC acquired a new position in Cardinal Health during the fourth quarter worth $30,000. Bellwether Advisors LLC bought a new position in Cardinal Health during the fourth quarter valued at about $32,000. Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health in the fourth quarter worth about $35,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Cardinal Health during the 4th quarter worth about $36,000. Institutional investors own 87.17% of the company's stock.
Cardinal Health Price Performance
Shares of NYSE CAH traded up $1.09 during trading hours on Friday, reaching $148.36. The stock had a trading volume of 3,241,366 shares, compared to its average volume of 2,210,082. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $154.07. The business's fifty day moving average is $134.65 and its two-hundred day moving average is $126.30.
Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The company had revenue of $54.88 billion during the quarter, compared to analysts' expectations of $55.33 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The business's revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.
Cardinal Health Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. This is a positive change from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's dividend payout ratio is currently 31.51%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on CAH. Bank of America boosted their target price on Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Robert W. Baird upped their price objective on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. UBS Group boosted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, StockNews.com upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $146.43.
Get Our Latest Analysis on CAH
About Cardinal Health
(
Free Report)
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.
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