Woodline Partners LP Makes New $87.14 Million Investment in Cardinal Health, Inc. (NYSE:CAH)

Woodline Partners LP bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 736,824 shares of the company’s stock, valued at approximately $87,144,000. Cardinal Health comprises 0.6% of Woodline Partners LP’s portfolio, making the stock its 27th largest holding. Woodline Partners LP owned about 0.31% of Cardinal Health at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Barclays PLC raised its position in shares of Cardinal Health by 8.2% in the third quarter. Barclays PLC now owns 707,404 shares of the company’s stock valued at $78,183,000 after buying an additional 53,851 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $433,000. Arkadios Wealth Advisors acquired a new position in shares of Cardinal Health in the fourth quarter valued at approximately $242,000. HB Wealth Management LLC raised its position in shares of Cardinal Health by 12.5% in the fourth quarter. HB Wealth Management LLC now owns 6,296 shares of the company’s stock valued at $745,000 after buying an additional 698 shares during the last quarter. Finally, UMB Bank n.a. raised its position in shares of Cardinal Health by 6.8% in the fourth quarter. UMB Bank n.a. now owns 2,401 shares of the company’s stock valued at $284,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Citigroup reaffirmed a “neutral” rating on shares of Cardinal Health in a research report on Thursday, May 1st. Robert W. Baird upped their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley upped their price target on shares of Cardinal Health from $142.00 to $166.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.43.

Cardinal Health Stock Down 0.3%

CAH opened at $153.78 on Tuesday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $154.78. The company has a 50 day moving average of $137.63 and a two-hundred day moving average of $128.19. The company has a market cap of $36.70 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $54.88 billion during the quarter, compared to the consensus estimate of $55.33 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. Cardinal Health’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.04 annualized dividend and a dividend yield of 1.33%. Cardinal Health’s dividend payout ratio is 31.83%.

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.