Twinbeech Capital LP Takes $9.64 Million Position in Cardinal Health, Inc. (NYSE:CAH)

Twinbeech Capital LP acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 81,499 shares of the company's stock, valued at approximately $9,639,000.

A number of other hedge funds have also recently bought and sold shares of CAH. Barclays PLC grew its stake in Cardinal Health by 8.2% during the 3rd quarter. Barclays PLC now owns 707,404 shares of the company's stock valued at $78,183,000 after purchasing an additional 53,851 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $433,000. Arkadios Wealth Advisors acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $242,000. HB Wealth Management LLC grew its stake in Cardinal Health by 12.5% during the 4th quarter. HB Wealth Management LLC now owns 6,296 shares of the company's stock valued at $745,000 after purchasing an additional 698 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Cardinal Health by 6.8% during the 4th quarter. UMB Bank n.a. now owns 2,401 shares of the company's stock valued at $284,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CAH shares. UBS Group lifted their target price on Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company lifted their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Argus set a $148.00 target price on Cardinal Health in a research report on Tuesday, February 4th. Mizuho lifted their target price on Cardinal Health from $142.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, March 31st. Finally, Jefferies Financial Group upgraded Cardinal Health from a "hold" rating to a "buy" rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four investment 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $146.43.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $153.78 on Tuesday. The business's fifty day moving average price is $137.63 and its two-hundred day moving average price is $128.19. The company has a market capitalization of $36.70 billion, a P/E ratio of 28.69, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $154.78.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.20. The firm had revenue of $54.88 billion for the quarter, compared to the consensus estimate of $55.33 billion. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.5107 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.33%. Cardinal Health's dividend payout ratio (DPR) is 31.83%.

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.

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