Fred Alger Management LLC Acquires 15,691 Shares of Cardinal Health, Inc. (NYSE:CAH)

Fred Alger Management LLC boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 50.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,743 shares of the company’s stock after acquiring an additional 15,691 shares during the quarter. Fred Alger Management LLC’s holdings in Cardinal Health were worth $5,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Cardinal Health by 17.1% during the 4th quarter. Deutsche Bank AG now owns 1,087,512 shares of the company’s stock worth $128,620,000 after purchasing an additional 158,779 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Cardinal Health by 4.4% in the fourth quarter. EP Wealth Advisors LLC now owns 5,338 shares of the company’s stock valued at $631,000 after buying an additional 225 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of Cardinal Health by 4.4% during the 4th quarter. CoreCap Advisors LLC now owns 25,785 shares of the company’s stock worth $3,050,000 after buying an additional 1,093 shares in the last quarter. Cornerstone Select Advisors LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $1,426,000. Finally, Crestline Management LP bought a new stake in shares of Cardinal Health in the 4th quarter valued at $4,123,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CAH shares. Citigroup restated a “neutral” rating on shares of Cardinal Health in a report on Thursday, May 1st. StockNews.com upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. UBS Group raised their price objective on shares of Cardinal Health from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

Cardinal Health Trading Up 0.7 %

Shares of Cardinal Health stock opened at $148.36 on Friday. The company’s 50-day moving average price is $134.65 and its 200-day moving average price is $126.30. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $154.07. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.20. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. The firm had revenue of $54.88 billion for the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 31.51%.

Cardinal Health 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.