Cumberland Partners Ltd Takes Position in Cardinal Health, Inc. $CAH

Cumberland Partners Ltd acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,000 shares of the company’s stock, valued at approximately $942,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Cardinal Health during the second quarter valued at $584,420,000. Acadian Asset Management LLC raised its position in Cardinal Health by 92.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after purchasing an additional 807,063 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Cardinal Health by 476.8% during the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after buying an additional 730,209 shares during the period. Voya Investment Management LLC grew its position in shares of Cardinal Health by 298.3% in the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after buying an additional 615,398 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in shares of Cardinal Health by 237.6% in the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock valued at $106,760,000 after buying an additional 478,689 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $222.59 on Friday. The business has a 50-day simple moving average of $210.86 and a 200 day simple moving average of $184.06. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $230.81. The firm has a market capitalization of $52.38 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 1.45 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating 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 firm had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter last year, the firm posted $1.93 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Analyst Ratings Changes

Several analysts recently commented on CAH shares. Mizuho increased their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Leerink Partners upped their price objective on shares of Cardinal Health from $240.00 to $268.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. TD Cowen lifted their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Argus increased their price target on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus price target of $244.20.

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.