Abacus FCF Advisors LLC Buys New Position in Cardinal Health, Inc. $CAH

Abacus FCF Advisors LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 34,950 shares of the company's stock, valued at approximately $7,182,000.

Other large investors have also added to or reduced their stakes in the company. Strategy Asset Managers LLC purchased a new stake in shares of Cardinal Health in the third quarter valued at about $775,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Cardinal Health by 15.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company's stock valued at $5,938,000 after purchasing an additional 5,030 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Cardinal Health in the 3rd quarter valued at $2,090,000. Atle Fund Management AB increased its stake in Cardinal Health by 13.1% during the third quarter. Atle Fund Management AB now owns 30,297 shares of the company's stock worth $4,755,000 after purchasing an additional 3,500 shares during the period. Finally, Nordea Investment Management AB increased its stake in Cardinal Health by 328.3% during the 4th quarter. Nordea Investment Management AB now owns 645,436 shares of the company's stock worth $133,741,000 after buying an additional 494,731 shares during the period. Institutional investors own 87.17% of the company's stock.

Cardinal Health Stock Performance

CAH opened at $199.74 on Friday. Cardinal Health, Inc. has a one year low of $134.76 and a one year high of $233.60. The stock has a market capitalization of $47.00 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.32 and a beta of 0.64. The business's 50-day simple moving average is $215.53 and its 200-day simple moving average is $204.57.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to analysts' expectations of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business's revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 EPS. On average, equities research analysts forecast that Cardinal Health, Inc. will post 10.32 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a $0.5107 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $2.04 annualized dividend and a yield of 1.0%. Cardinal Health's dividend payout ratio is 29.35%.

Analyst Ratings Changes

A number of research firms recently weighed in on CAH. Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 12th. Jefferies Financial Group lifted their price target on Cardinal Health from $220.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on Cardinal Health from $209.00 to $243.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 10th. UBS Group set a $260.00 price objective on Cardinal Health and gave the company a "buy" rating in a report on Friday, February 6th. Finally, Wells Fargo & Company raised their target price on Cardinal Health from $237.00 to $256.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $244.33.

About Cardinal Health

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.