Cardinal Health, Inc. $CAH Shares Acquired by Cozad Asset Management Inc.

Cozad Asset Management Inc. lifted its position in Cardinal Health, Inc. (NYSE:CAH) by 23.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,266 shares of the company’s stock after purchasing an additional 6,185 shares during the quarter. Cozad Asset Management Inc.’s holdings in Cardinal Health were worth $5,064,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC acquired a new position in Cardinal Health in the third quarter valued at $775,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after buying an additional 5,030 shares during the last quarter. Versor Investments LP acquired a new position in Cardinal Health in the 3rd quarter valued at about $2,090,000. Atle Fund Management AB raised its stake in Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Machina Capital S.A.S. raised its stake in Cardinal Health by 248.0% during the 3rd quarter. Machina Capital S.A.S. now owns 27,054 shares of the company’s stock valued at $4,246,000 after acquiring an additional 19,280 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.4%

Shares of Cardinal Health stock opened at $225.82 on Wednesday. The company has a 50-day moving average of $212.44 and a two-hundred day moving average of $185.88. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $230.81. The stock has a market cap of $53.14 billion, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share 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 for the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The company’s revenue was up 18.8% compared to the same quarter last year. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen boosted their target price on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. boosted their price objective 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. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Mizuho boosted their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.20.

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.