Cardinal Health, Inc. $CAH Holdings Raised by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 237.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 680,173 shares of the company’s stock after acquiring an additional 478,689 shares during the period. AustralianSuper Pty Ltd owned 0.29% of Cardinal Health worth $106,760,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Latitude Advisors LLC grew its stake in Cardinal Health by 2.1% in the third quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after purchasing an additional 53 shares in the last quarter. WESPAC Advisors LLC raised its stake in shares of Cardinal Health by 1.0% during the 3rd quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock worth $1,043,000 after purchasing an additional 63 shares in the last quarter. Kathmere Capital Management LLC lifted its holdings in shares of Cardinal Health by 1.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after buying an additional 65 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Cardinal Health by 0.4% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 17,805 shares of the company’s stock valued at $2,991,000 after buying an additional 69 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after buying an additional 71 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CAH shares. Evercore ISI lifted their target price on shares of Cardinal Health from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Barclays assumed coverage on shares of Cardinal Health in a report on Monday, December 8th. They set an “overweight” rating and a $243.00 price target on the stock. Argus upped their price objective on shares of Cardinal Health from $211.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Finally, Leerink Partners set a $240.00 price target on Cardinal Health in a research report on Tuesday, January 13th. Fourteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.07.

Cardinal Health Price Performance

CAH stock opened at $210.22 on Thursday. The stock has a market capitalization of $49.95 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 1.45 and a beta of 0.65. The company has a 50-day moving average of $206.07 and a two-hundred day moving average of $177.30. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $215.48.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The business had revenue of $64.01 billion for the quarter, compared to analyst estimates of $59.41 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were given a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, January 2nd. Cardinal Health’s payout ratio is currently 30.77%.

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.