Vega Investment Solutions Makes New $1.38 Million Investment in Cardinal Health, Inc. (NYSE:CAH)

Vega Investment Solutions bought a new position in Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,682 shares of the company’s stock, valued at approximately $1,382,000. Cardinal Health comprises 1.1% of Vega Investment Solutions’ holdings, making the stock its 19th biggest position.

A number of other large investors have also bought and sold shares of CAH. Norges Bank purchased a new stake in Cardinal Health in the fourth quarter worth $246,748,000. Marshall Wace LLP grew its position in shares of Cardinal Health by 154.6% in the fourth quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock valued at $372,756,000 after purchasing an additional 1,913,892 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Cardinal Health in the fourth quarter valued at $141,963,000. Junto Capital Management LP purchased a new position in shares of Cardinal Health in the fourth quarter valued at $92,811,000. Finally, Woodline Partners LP purchased a new position in shares of Cardinal Health in the fourth quarter valued at $87,144,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CAH shares. Morgan Stanley lifted their price target on Cardinal Health from $142.00 to $166.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Mizuho lifted their price target on Cardinal Health from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, March 31st. Robert W. Baird lifted their price target on Cardinal Health from $156.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price target on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. Finally, Argus set a $148.00 price target on Cardinal Health in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.43.

Cardinal Health Stock Down 0.6%

Shares of CAH stock opened at $152.41 on Friday. The business has a 50-day moving average price of $139.15 and a two-hundred day moving average price of $128.82. Cardinal Health, Inc. has a 12-month low of $93.17 and a 12-month high of $156.44. The firm has a market cap of $36.38 billion, a P/E ratio of 28.43, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. The firm had revenue of $54.88 billion during the quarter, compared to analyst estimates of $55.33 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company’s revenue was up .0% compared to the same quarter last year. As a group, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal 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 issued a $0.5107 dividend. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.34%. This is an increase from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s payout ratio is currently 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.