Aberdeen Group plc Increases Stock Holdings in Cardinal Health, Inc. $CAH

Aberdeen Group plc boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 232,734 shares of the company’s stock after purchasing an additional 3,274 shares during the quarter. Aberdeen Group plc owned approximately 0.10% of Cardinal Health worth $35,974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. GF Fund Management CO. LTD. increased its stake in shares of Cardinal Health by 11.8% during the 3rd quarter. GF Fund Management CO. LTD. now owns 6,609 shares of the company’s stock valued at $1,037,000 after acquiring an additional 699 shares during the last quarter. Florida Financial Advisors LLC purchased a new stake in Cardinal Health in the third quarter valued at approximately $1,568,000. Metis Global Partners LLC increased its position in Cardinal Health by 6.6% during the third quarter. Metis Global Partners LLC now owns 16,109 shares of the company’s stock worth $2,528,000 after purchasing an additional 994 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Cardinal Health by 66.7% during the third quarter. Public Sector Pension Investment Board now owns 30,007 shares of the company’s stock worth $4,710,000 after purchasing an additional 12,003 shares during the period. Finally, Atria Investments Inc boosted its holdings in shares of Cardinal Health by 17.2% in the 3rd quarter. Atria Investments Inc now owns 27,709 shares of the company’s stock valued at $4,349,000 after purchasing an additional 4,073 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on CAH shares. Evercore ISI increased their target price on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. UBS Group set a $260.00 price objective on Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. Wells Fargo & Company lifted their price objective on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Jefferies Financial Group boosted their target price on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Argus raised their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.19.

Cardinal Health Trading Up 2.6%

CAH opened at $220.72 on Tuesday. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $230.81. The firm has a market cap of $51.94 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.42 and a beta of 0.64. The company has a fifty day simple moving average of $209.29 and a 200 day simple moving average of $183.01.

Cardinal Health (NYSE:CAH) last issued 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 for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 EPS. On average, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors 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 yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 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.