Twin Capital Management Inc. Increases Stock Holdings in Cardinal Health, Inc. (NYSE:CAH)

Twin Capital Management Inc. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,987 shares of the company’s stock after purchasing an additional 542 shares during the period. Twin Capital Management Inc.’s holdings in Cardinal Health were worth $2,009,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. increased its holdings in Cardinal Health by 4.6% during the fourth quarter. Invesco Ltd. now owns 3,182,514 shares of the company’s stock valued at $376,396,000 after buying an additional 140,368 shares during the period. Cerity Partners LLC raised its stake in shares of Cardinal Health by 5.9% in the fourth quarter. Cerity Partners LLC now owns 34,920 shares of the company’s stock worth $4,059,000 after purchasing an additional 1,956 shares during the last quarter. Unigestion Holding SA boosted its holdings in shares of Cardinal Health by 614.4% in the 4th quarter. Unigestion Holding SA now owns 46,510 shares of the company’s stock valued at $5,501,000 after acquiring an additional 40,000 shares during the last quarter. Federated Hermes Inc. grew its position in Cardinal Health by 55.2% during the 4th quarter. Federated Hermes Inc. now owns 578,367 shares of the company’s stock worth $68,403,000 after purchasing an additional 205,818 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Cardinal Health during the fourth quarter worth about $685,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CAH. Citigroup upped their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Morgan Stanley upped their price objective on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Evercore ISI upgraded shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $140.14.

Cardinal Health Trading Down 3.0 %

Shares of CAH stock opened at $125.74 on Tuesday. The company has a market cap of $30.37 billion, a P/E ratio of 23.46, a PEG ratio of 1.49 and a beta of 0.61. The firm has a fifty day moving average price of $129.05 and a 200 day moving average price of $121.80. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $139.50.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 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.