Point72 Hong Kong Ltd Purchases 51,233 Shares of Cardinal Health, Inc. (NYSE:CAH)

Point72 Hong Kong Ltd raised its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 168.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 81,677 shares of the company's stock after purchasing an additional 51,233 shares during the quarter. Point72 Hong Kong Ltd's holdings in Cardinal Health were worth $9,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mufg Securities Americas Inc. bought a new position in shares of Cardinal Health in the 4th quarter worth $423,000. Nomura Holdings Inc. lifted its holdings in shares of Cardinal Health by 138.7% in the 4th quarter. Nomura Holdings Inc. now owns 9,783 shares of the company's stock worth $1,157,000 after purchasing an additional 5,684 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of Cardinal Health by 730.9% in the 4th quarter. NorthRock Partners LLC now owns 40,347 shares of the company's stock worth $4,772,000 after purchasing an additional 35,491 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its holdings in shares of Cardinal Health by 20.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 10,310 shares of the company's stock worth $1,219,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Cardinal Health in the 4th quarter worth $47,000. 87.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAH has been the topic of a number of recent research reports. Robert W. Baird increased their target price on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. StockNews.com upgraded Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Argus set a $148.00 price objective on Cardinal Health in a research note on Tuesday, February 4th. Bank of America raised their price objective on Cardinal Health from $150.00 to $155.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, Citigroup restated a "neutral" rating on shares of Cardinal Health in a research note on Thursday, May 1st. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

Cardinal Health Stock Up 1.5%

CAH traded up $2.28 during trading hours on Friday, hitting $154.23. The stock had a trading volume of 2,804,902 shares, compared to its average volume of 2,233,263. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $154.32. The company's fifty day simple moving average is $137.09 and its 200 day simple moving average is $127.79. The stock has a market cap of $36.81 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $54.88 billion during 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 company's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be given a $0.5107 dividend. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 dividend on an annualized basis and a yield of 1.32%. Cardinal Health's payout ratio is presently 31.83%.

Cardinal Health Profile

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.