Freestone Grove Partners LP Invests $36.71 Million in Cardinal Health, Inc. (NYSE:CAH)

Freestone Grove Partners LP bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 310,381 shares of the company's stock, valued at approximately $36,709,000. Freestone Grove Partners LP owned 0.13% of Cardinal Health as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Rehmann Capital Advisory Group boosted its holdings in shares of Cardinal Health by 8.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,946 shares of the company's stock valued at $348,000 after buying an additional 223 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Cardinal Health in the 4th quarter worth approximately $295,000. Voleon Capital Management LP purchased a new stake in shares of Cardinal Health in the fourth quarter worth $10,279,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Cardinal Health by 134.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 121,935 shares of the company's stock valued at $14,421,000 after acquiring an additional 70,020 shares in the last quarter. Finally, 8 Knots Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter worth approximately $62,476,000. Institutional investors own 87.17% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Citigroup reaffirmed a "neutral" rating on shares of Cardinal Health in a research report on Thursday. StockNews.com raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday. UBS Group lifted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Robert W. Baird raised their price target on Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday. Finally, Argus set a $148.00 target price on Cardinal Health in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $146.43.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded down $0.14 on Tuesday, reaching $151.85. The company's stock had a trading volume of 582,576 shares, compared to its average volume of 2,188,278. The company has a 50-day simple moving average of $132.87 and a 200 day simple moving average of $125.44. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $154.10. The company has a market cap of $36.68 billion, a P/E ratio of 28.34, a PEG ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.15 by $0.20. The company had revenue of $54.88 billion during the quarter, compared to analyst estimates 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 was up .0% on a year-over-year basis. During the same quarter last year, the business posted $2.08 earnings per share. On average, equities research analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced 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 represents a $2.04 annualized dividend and a dividend yield of 1.35%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio is currently 37.69%.

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.