Plato Investment Management Ltd Buys 584 Shares of Cardinal Health, Inc. (NYSE:CAH)

Plato Investment Management Ltd lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,323 shares of the company’s stock after acquiring an additional 584 shares during the period. Plato Investment Management Ltd’s holdings in Cardinal Health were worth $632,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new position in shares of Cardinal Health in the fourth quarter worth $281,000. Jones Financial Companies Lllp boosted its holdings in shares of Cardinal Health by 53.8% in the fourth quarter. Jones Financial Companies Lllp now owns 7,078 shares of the company’s stock worth $837,000 after acquiring an additional 2,477 shares during the period. Asahi Life Asset Management CO. LTD. bought a new position in shares of Cardinal Health in the fourth quarter worth $381,000. Bailard Inc. boosted its holdings in shares of Cardinal Health by 3.0% in the fourth quarter. Bailard Inc. now owns 6,012 shares of the company’s stock worth $711,000 after acquiring an additional 177 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Cardinal Health by 37.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,378 shares of the company’s stock valued at $163,000 after buying an additional 375 shares during the period. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAH. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $132.00 to $145.00 in a research note on Monday, January 6th. Argus set a $148.00 price objective on Cardinal Health in a research note on Tuesday, February 4th. Wells Fargo & Company lifted their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective for the company. Finally, Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Trading Down 2.2 %

CAH opened at $126.38 on Wednesday. The company has a market cap of $30.53 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.49 and a beta of 0.63. The business’s 50-day moving average price is $125.11 and its 200-day moving average price is $118.51. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS 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%. Equities research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.60%. Cardinal Health’s dividend payout ratio is currently 37.69%.

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.