Voleon Capital Management LP Invests $10.28 Million in Cardinal Health, Inc. (NYSE:CAH)

Voleon Capital Management LP bought a new stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 86,915 shares of the company's stock, valued at approximately $10,279,000. Cardinal Health comprises approximately 0.8% of Voleon Capital Management LP's holdings, making the stock its 22nd largest holding.

Several other hedge funds have also made changes to their positions in CAH. Rothschild Investment LLC lifted its position in Cardinal Health by 10.1% during the 4th quarter. Rothschild Investment LLC now owns 858 shares of the company's stock worth $101,000 after acquiring an additional 79 shares during the period. Private Trust Co. NA lifted its holdings in shares of Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company's stock worth $110,000 after purchasing an additional 92 shares during the period. Checchi Capital Advisers LLC grew its position in Cardinal Health by 2.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company's stock valued at $411,000 after buying an additional 93 shares during the last quarter. TIAA Trust National Association increased its stake in Cardinal Health by 4.5% in the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock valued at $258,000 after buying an additional 94 shares during the period. Finally, MWA Asset Management raised its position in Cardinal Health by 2.9% during the 4th quarter. MWA Asset Management now owns 3,324 shares of the company's stock worth $393,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Up 2.8 %

Shares of CAH traded up $4.06 during mid-day trading on Friday, reaching $149.59. 3,365,880 shares of the company's stock were exchanged, compared to its average volume of 2,195,707. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $150.12. The company has a 50-day simple moving average of $132.38 and a two-hundred day simple moving average of $124.98. The company has a market cap of $36.14 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.20. The business 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 business's revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 earnings per share. As a group, equities research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a $0.5056 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.35%. Cardinal Health's dividend payout ratio (DPR) is presently 37.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CAH shares. Jefferies Financial Group upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Wells Fargo & Company boosted 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. Citigroup raised their price target on Cardinal Health from $120.00 to $129.00 and gave the company a "neutral" rating in a report on Friday, January 10th. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Finally, Bank of America upped their price target on shares of Cardinal Health from $150.00 to $155.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $144.71.

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.