Schroder Investment Management Group Boosts Stock Position in Cardinal Health, Inc. $CAH

Schroder Investment Management Group boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 10.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 561,620 shares of the company’s stock after purchasing an additional 55,155 shares during the quarter. Schroder Investment Management Group owned about 0.24% of Cardinal Health worth $86,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its position in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock valued at $601,000 after buying an additional 280 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after acquiring an additional 14,034 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Cardinal Health in the 2nd quarter worth approximately $79,000. Wedbush Securities Inc. raised its holdings in Cardinal Health by 4.0% in the 2nd quarter. Wedbush Securities Inc. now owns 5,052 shares of the company’s stock valued at $849,000 after acquiring an additional 193 shares during the last quarter. Finally, Prospera Financial Services Inc raised its holdings in Cardinal Health by 340.2% in the 2nd quarter. Prospera Financial Services Inc now owns 9,297 shares of the company’s stock valued at $1,563,000 after acquiring an additional 7,185 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAH has been the topic of several analyst reports. Morgan Stanley set a $255.00 price objective on Cardinal Health in a report on Friday, February 6th. Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Wells Fargo & Company increased their target price on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Argus raised their price target on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, UBS Group set a $260.00 price target on Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. One investment 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Stock Up 2.1%

Shares of CAH opened at $222.30 on Tuesday. Cardinal Health, Inc. has a fifty-two week low of $120.72 and a fifty-two week high of $233.60. The company’s fifty day moving average is $215.95 and its two-hundred day moving average is $190.54. The firm has a market cap of $52.31 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released 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 business 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 business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 29.35%.

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.