Distillate Capital Partners LLC Invests $18.65 Million in Cardinal Health, Inc. $CAH

Distillate Capital Partners LLC bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 119,114 shares of the company’s stock, valued at approximately $18,647,000.

A number of other hedge funds have also recently bought and sold shares of CAH. SJS Investment Consulting Inc. increased its position in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. Jones Financial Companies Lllp boosted its stake in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. American Capital Advisory LLC increased its holdings in Cardinal Health by 5,200.0% in the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock valued at $33,000 after buying an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC raised its stake in shares of Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 71 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $35,000. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CAH shares. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Wells Fargo & Company upped their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. TD Cowen raised their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group lifted their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. increased their price target on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Trading Down 1.0%

Shares of CAH opened at $216.95 on Monday. The stock has a market cap of $51.05 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The stock’s 50-day moving average price is $216.83 and its two-hundred day moving average price is $192.50. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business 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% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

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

Cardinal Health Company Profile

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.