Clark Capital Management Group Inc. Makes New Investment in Cardinal Health, Inc. $CAH

Clark Capital Management Group Inc. acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, HoldingsChannel.com reports. The firm acquired 26,822 shares of the company’s stock, valued at approximately $4,210,000.

Several other hedge funds also recently modified their holdings of the stock. SJS Investment Consulting Inc. grew its stake in Cardinal Health by 1,363.6% in 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 in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares in the last quarter. American Capital Advisory LLC boosted its holdings in shares of 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 last quarter. Vermillion & White Wealth Management Group LLC boosted its holdings 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 during the last quarter. Finally, Quent Capital LLC bought a new position in shares of Cardinal Health in the third quarter valued at $35,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.3%

CAH opened at $217.65 on Tuesday. The stock’s fifty day simple moving average is $217.07 and its 200 day simple moving average is $192.98. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60. The stock has a market cap of $51.22 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company’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 business posted $1.93 earnings per share. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. 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 presently 29.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Argus increased their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. 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 report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health 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.