LSV Asset Management Reduces Stake in Cardinal Health, Inc. $CAH

LSV Asset Management reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 37.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 614,780 shares of the company’s stock after selling 367,190 shares during the quarter. LSV Asset Management owned about 0.26% of Cardinal Health worth $96,496,000 as of its most recent SEC filing.

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

Cardinal Health Stock Performance

Cardinal Health stock opened at $215.43 on Friday. The company has a 50 day moving average price of $208.41 and a 200-day moving average price of $181.75. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $230.81. The company has a market capitalization of $50.69 billion, a PE ratio of 31.00, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.Cardinal Health’s revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. On average, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current 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. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

Analysts Set New Price Targets

CAH has been the subject of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Argus boosted their target price on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Wells Fargo & Company increased their price target on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $195.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 18th. Fifteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.19.

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.