Distillate Capital Partners LLC Acquires New Stake in Cardinal Health, Inc. $CAH

Distillate Capital Partners LLC acquired a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 119,114 shares of the company’s stock, valued at approximately $18,647,000. Distillate Capital Partners LLC owned approximately 0.05% of Cardinal Health at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. SJS Investment Consulting Inc. grew its holdings in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Cardinal Health by 198.3% in the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after acquiring an additional 14,034 shares during the last quarter. American Capital Advisory LLC lifted its stake in shares of Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after purchasing an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Cardinal Health by 55.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 71 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Cardinal Health during the third quarter worth $35,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH opened at $216.95 on Monday. The firm has a market cap of $51.05 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The business has a 50 day moving average price of $216.83 and a 200 day moving average price of $192.50. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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 net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter last year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal 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 issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 29.35%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CAH shares. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Morgan Stanley set a $255.00 price target on Cardinal Health in a report on Friday, February 6th. Argus upped their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Mizuho increased their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Evercore raised their target price on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. One 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 company’s stock. According to data from MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and a consensus price target of $245.67.

About Cardinal Health

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.