Janney Montgomery Scott LLC Buys 11,923 Shares of Cardinal Health, Inc. (NYSE:CAH)

Janney Montgomery Scott LLC raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 251,025 shares of the company’s stock after acquiring an additional 11,923 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.10% of Cardinal Health worth $29,689,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Cardinal Health during the 2nd quarter worth about $90,440,000. State Street Corp lifted its position in Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after buying an additional 627,253 shares in the last quarter. Two Sigma Advisers LP lifted its position in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after buying an additional 346,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after buying an additional 333,095 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Cardinal Health during the 3rd quarter worth about $30,820,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH stock opened at $128.89 on Friday. The stock has a market cap of $31.19 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The stock has a 50-day moving average of $121.36 and a 200-day moving average of $112.92. 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 earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. During the same period in the prior year, the business earned $1.73 EPS. Cardinal Health’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently announced 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 was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.57%. Cardinal Health’s payout ratio is 39.30%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Barclays upped their target price on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upgraded shares of Cardinal Health from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $101.00 to $127.00 in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.64.

Cardinal Health Company 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.