GAMMA Investing LLC Purchases 1,898 Shares of Cardinal Health, Inc. (NYSE:CAH)

GAMMA Investing LLC increased its position in Cardinal Health, Inc. (NYSE:CAH) by 53.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,455 shares of the company’s stock after acquiring an additional 1,898 shares during the period. GAMMA Investing LLC’s holdings in Cardinal Health were worth $645,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after purchasing an additional 42,082 shares during the period. Charles Schwab Investment Management Inc. grew its position in Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock valued at $162,976,000 after buying an additional 33,388 shares during the period. Alpha Cubed Investments LLC purchased a new stake in Cardinal Health during the third quarter valued at approximately $371,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Cardinal Health in the third quarter worth approximately $1,691,000. Finally, National Wealth Management Group LLC bought a new position in Cardinal Health in the third quarter worth approximately $903,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CAH shares. Barclays upped their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Argus boosted their price objective on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley raised their target price on shares of Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company raised shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $101.00 to $127.00 in a report on Friday, December 13th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $127.50.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $119.30 on Friday. The company has a market cap of $28.87 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.47 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The firm’s fifty day moving average is $118.80 and its two-hundred day moving average is $110.41.

Cardinal Health (NYSE:CAH) last issued its earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. As a group, analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.70%. Cardinal Health’s dividend payout ratio is currently 39.30%.

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.