MQS Management LLC Purchases Shares of 3,977 Cardinal Health, Inc. $CAH

MQS Management LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,977 shares of the company’s stock, valued at approximately $624,000.

Several other institutional investors have also recently modified their holdings of CAH. SJS Investment Consulting Inc. increased its position in Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Cardinal Health by 75.0% in the second quarter. Atlantic Edge Private Wealth Management LLC now owns 175 shares of the company’s stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 71 shares during the last quarter. American Capital Advisory LLC increased its position in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after purchasing an additional 208 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in Cardinal Health by 100.0% in the 2nd quarter. NewSquare Capital LLC now owns 214 shares of the company’s stock valued at $36,000 after purchasing an additional 107 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $220.51 on Wednesday. The stock has a 50-day simple moving average of $207.59 and a 200-day simple moving average of $181.21. The stock has a market capitalization of $51.89 billion, a P/E ratio of 31.73, a PEG ratio of 1.46 and a beta of 0.64. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $230.81.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CAH. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Mizuho lifted their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird set a $252.00 price target on Cardinal Health in a research note on Friday. UBS Group set a $260.00 price objective on Cardinal Health and gave the stock a “buy” rating in a report on Friday. Finally, Argus upped their target price on Cardinal Health from $211.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Fifteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and an average target price of $242.56.

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.