Verde Capital Management Invests $220,000 in Cardinal Health, Inc. (NYSE:CAH)

Verde Capital Management bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, HoldingsChannel.com reports. The fund bought 1,860 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raleigh Capital Management Inc. increased its position in shares of Cardinal Health by 29.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock valued at $55,000 after buying an additional 106 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Cardinal Health by 5.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 251,025 shares of the company’s stock worth $29,689,000 after acquiring an additional 11,923 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Cardinal Health by 677.2% during the fourth quarter. SG Americas Securities LLC now owns 137,312 shares of the company’s stock valued at $16,240,000 after purchasing an additional 119,645 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of Cardinal Health by 10.5% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 11,883 shares of the company’s stock valued at $1,405,000 after purchasing an additional 1,132 shares during the period. Finally, Atomi Financial Group Inc. purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $239,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.29.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $129.38 on Friday. The stock has a fifty day moving average of $121.15 and a 200-day moving average of $112.70. The company has a market capitalization of $31.31 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $129.68.

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

Cardinal Health Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.56%. Cardinal Health’s dividend payout ratio is 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.