Fisher Asset Management LLC Makes New $368,000 Investment in Cardinal Health, Inc. (NYSE:CAH)

Fisher Asset Management LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,107 shares of the company’s stock, valued at approximately $368,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Cardinal Health by 4.6% in the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after acquiring an additional 627,253 shares in the last quarter. Two Sigma Advisers LP raised its stake in Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after purchasing an additional 346,362 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Cardinal Health by 230.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after acquiring an additional 333,095 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in Cardinal Health by 77.3% in the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock valued at $65,539,000 after purchasing an additional 258,541 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of Cardinal Health by 4.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after purchasing an additional 191,568 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. Citigroup boosted their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research report on Tuesday, January 7th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Finally, Mizuho began coverage on Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Price Performance

CAH opened at $126.40 on Friday. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.49 and a beta of 0.66. The business has a fifty day moving average price of $125.43 and a 200 day moving average price of $118.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.60%. Cardinal Health’s payout ratio is 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.