Cardinal Health, Inc. $CAH Shares Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 51.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,251 shares of the company’s stock after buying an additional 5,877 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Cardinal Health were worth $2,708,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Cardinal Health by 0.8% in the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock worth $4,838,054,000 after buying an additional 247,667 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock valued at $1,069,005,000 after purchasing an additional 205,539 shares during the period. Norges Bank purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $584,420,000. Invesco Ltd. boosted its holdings in shares of Cardinal Health by 7.3% during the second quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after purchasing an additional 207,750 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Cardinal Health by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after buying an additional 45,812 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $224.83 on Tuesday. The stock’s 50-day moving average is $211.88 and its 200-day moving average is $185.40. The company has a market cap of $52.91 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $230.81.

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

Cardinal Health Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CAH shares. TD Cowen lifted their price objective on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a research report on Friday, February 6th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.20.

Cardinal Health 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.