Te Ahumairangi Investment Management Ltd Acquires 3,275 Shares of Cardinal Health, Inc. $CAH

Te Ahumairangi Investment Management Ltd grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,441 shares of the company’s stock after purchasing an additional 3,275 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Cardinal Health were worth $5,249,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CAH. Integrated Wealth Concepts LLC increased its stake in 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 in the last quarter. Jones Financial Companies Lllp increased its position in shares of 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 acquiring an additional 14,034 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cardinal Health during the second quarter valued at approximately $221,000. Allworth Financial LP lifted its holdings in shares of Cardinal Health by 9.2% during the second quarter. Allworth Financial LP now owns 4,345 shares of the company’s stock valued at $730,000 after purchasing an additional 367 shares in the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Cardinal Health during the second quarter valued at $1,011,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 0.1%

Cardinal Health stock traded up $0.28 during trading on Friday, reaching $219.37. The company had a trading volume of 234,204 shares, compared to its average volume of 1,734,198. The firm has a market capitalization of $51.62 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 1.39 and a beta of 0.65. The firm’s 50-day simple moving average is $216.60 and its 200 day simple moving average is $191.39. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $233.60.

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

Cardinal Health Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Evercore lifted their price objective on Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Wells Fargo & Company upped their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Argus lifted their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Finally, TD Cowen increased their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. One 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 MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target 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.