NEOS Investment Management LLC Buys 19,639 Shares of Cardinal Health, Inc. $CAH

NEOS Investment Management LLC lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 113.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,900 shares of the company’s stock after purchasing an additional 19,639 shares during the period. NEOS Investment Management LLC’s holdings in Cardinal Health were worth $5,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Latitude Advisors LLC lifted its holdings in Cardinal Health by 2.1% during the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock worth $408,000 after buying an additional 53 shares in the last quarter. WESPAC Advisors LLC raised its position in shares of Cardinal Health by 1.0% during the third quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock worth $1,043,000 after acquiring an additional 63 shares during the last quarter. Kathmere Capital Management LLC raised its position in shares of Cardinal Health by 1.6% during the third quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock worth $642,000 after acquiring an additional 65 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its stake 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 valued at $34,000 after acquiring an additional 71 shares during the period. Finally, Woodward Diversified Capital LLC boosted its holdings in Cardinal Health by 4.0% in the third quarter. Woodward Diversified Capital LLC now owns 1,854 shares of the company’s stock valued at $291,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.2%

CAH opened at $225.07 on Thursday. The company has a fifty day simple moving average of $210.37 and a 200 day simple moving average of $183.79. The stock has a market cap of $52.96 billion, a P/E ratio of 32.38, a P/E/G ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $230.81.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (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 period in the previous year, the firm earned $1.93 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business 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 $0.5107 dividend. 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 presently 29.35%.

Analyst Ratings Changes

CAH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. TD Cowen boosted their price target 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. Mizuho raised their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Finally, Robert W. Baird set a $252.00 price target on Cardinal Health in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health 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.