Quantbot Technologies LP Reduces Stake in Cardinal Health, Inc. $CAH

Quantbot Technologies LP lowered its position in Cardinal Health, Inc. (NYSE:CAH) by 79.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,537 shares of the company’s stock after selling 88,711 shares during the period. Quantbot Technologies LP’s holdings in Cardinal Health were worth $3,537,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in shares of Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after purchasing an additional 280 shares during the last quarter. Jones Financial Companies Lllp grew its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after buying an additional 14,034 shares during the period. Hantz Financial Services Inc. grew its position in Cardinal Health by 44.8% during the second quarter. Hantz Financial Services Inc. now owns 307 shares of the company’s stock valued at $52,000 after buying an additional 95 shares during the period. Strs Ohio increased its holdings in Cardinal Health by 10.7% during the second quarter. Strs Ohio now owns 21,308 shares of the company’s stock valued at $3,580,000 after buying an additional 2,058 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new position in Cardinal Health in the second quarter worth approximately $266,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

CAH stock opened at $230.12 on Tuesday. The company’s fifty day moving average price is $214.58 and its 200-day moving average price is $188.06. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The company has a market capitalization of $54.15 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 EPS. On average, research analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is currently 29.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAH. JPMorgan Chase & Co. boosted their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. UBS Group set a $260.00 price target on Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. Morgan Stanley set a $255.00 price target on Cardinal Health in a research report on Friday, February 6th. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Finally, Zacks Research raised shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $245.67.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.