Burney Co. Has $9.93 Million Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Burney Co. increased its stake in Cardinal Health by 27.1% in Q4 to 48,338 shares, worth about $9.93 million after buying an additional 10,305 shares.
• Multiple brokerages upgraded the stock recently (Citigroup, Wells Fargo, Jefferies, Zacks, Weiss), leaving a MarketBeat consensus of Moderate Buy and an average price target of $244.33, above the current share price.
• Cardinal Health beat quarterly EPS estimates ($2.63 vs. $2.31) with revenue up 18.8% to $65.63 billion, and declared a quarterly dividend of $0.5107 (annualized $2.04, yield ~0.9%).

Burney Co. grew its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 27.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,338 shares of the company's stock after buying an additional 10,305 shares during the quarter. Burney Co.'s holdings in Cardinal Health were worth $9,933,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAH. Wellington Management Group LLP boosted its holdings in shares of Cardinal Health by 153.2% in the third quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company's stock worth $911,010,000 after buying an additional 3,511,579 shares during the period. Holocene Advisors LP boosted its holdings in shares of Cardinal Health by 141.4% in the third quarter. Holocene Advisors LP now owns 1,926,170 shares of the company's stock worth $302,332,000 after buying an additional 1,128,358 shares during the period. Barclays PLC boosted its holdings in shares of Cardinal Health by 109.3% in the third quarter. Barclays PLC now owns 1,584,214 shares of the company's stock worth $248,658,000 after buying an additional 827,446 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Cardinal Health by 3,829.1% in the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company's stock worth $149,504,000 after buying an additional 708,995 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Cardinal Health by 44.9% in the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company's stock worth $352,165,000 after buying an additional 707,495 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup upgraded shares of Cardinal Health from a "neutral" rating to a "buy" rating and raised their target price for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Wells Fargo & Company raised their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Zacks Research upgraded shares of Cardinal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Jefferies Financial Group raised their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Cardinal Health in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $244.33.

Cardinal Health Stock Down 0.2%

NYSE CAH opened at $215.32 on Friday. Cardinal Health, Inc. has a 12-month low of $128.44 and a 12-month high of $233.60. The stock has a market capitalization of $50.67 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 1.39 and a beta of 0.64. The company has a 50 day moving average price of $217.84 and a two-hundred day moving average price of $200.82.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter last year, the firm posted $1.93 earnings per share. The company's quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a $0.5107 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health's dividend payout ratio (DPR) is currently 29.35%.

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.

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