9,124 Shares in Cardinal Health, Inc. (NYSE:CAH) Bought by Algert Global LLC

Algert Global LLC bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 9,124 shares of the company’s stock, valued at approximately $1,008,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Point72 Asset Management L.P. bought a new position in Cardinal Health in the second quarter worth $90,440,000. Pacer Advisors Inc. lifted its position in Cardinal Health by 9.9% in the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after purchasing an additional 370,181 shares during the period. Wedge Capital Management L L P NC bought a new position in Cardinal Health in the third quarter worth $30,820,000. American Century Companies Inc. lifted its position in Cardinal Health by 17.7% in the second quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock worth $158,390,000 after purchasing an additional 242,608 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in shares of Cardinal Health by 63.2% during the second quarter. Squarepoint Ops LLC now owns 485,238 shares of the company’s stock valued at $47,709,000 after acquiring an additional 187,955 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Up 0.2 %

Shares of CAH stock opened at $122.63 on Friday. The stock has a 50-day moving average price of $114.51 and a 200 day moving average price of $106.41. The firm has a market cap of $29.68 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.73 earnings per share. Sell-side analysts predict that Cardinal Health, Inc. will post 7.82 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a $0.5056 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. Cardinal Health’s payout ratio is 39.30%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CAH. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a report on Monday, November 4th. Morgan Stanley lifted their price objective on Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho lifted their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.00.

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.