Summit Global Investments Has $9.71 Million Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Summit Global Investments lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,108 shares of the company’s stock after selling 21,492 shares during the quarter. Summit Global Investments’ holdings in Cardinal Health were worth $9,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Promus Capital LLC bought a new position in shares of Cardinal Health in the fourth quarter worth $30,000. Lee Danner & Bass Inc. bought a new position in shares of Cardinal Health in the fourth quarter worth $35,000. Kentucky Trust Co bought a new position in shares of Cardinal Health in the fourth quarter worth $41,000. HHM Wealth Advisors LLC increased its position in shares of Cardinal Health by 57.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after purchasing an additional 144 shares during the period. Finally, Raleigh Capital Management Inc. increased its position in shares of Cardinal Health by 29.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 464 shares of the company’s stock worth $55,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 1.0 %

NYSE:CAH opened at $131.80 on Friday. The stock has a market cap of $31.84 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66. The stock’s 50-day moving average is $127.35 and its 200-day moving average is $120.00. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $133.67.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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 negative return on equity of 59.57% and a net margin of 0.59%. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of recent analyst reports. Citigroup raised their price target on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Mizuho assumed coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, TD Cowen upgraded Cardinal Health from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.36.

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.