Jupiter Asset Management Ltd. Makes New Investment in Cardinal Health, Inc. $CAH

Jupiter Asset Management Ltd. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 298,883 shares of the company’s stock, valued at approximately $46,913,000.

A number of other large investors have also recently made changes to their positions in CAH. SJS Investment Consulting Inc. increased its position in 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 during the period. Jones Financial Companies Lllp grew its position in shares of 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. American Capital Advisory LLC increased its holdings in shares of Cardinal Health by 5,200.0% in the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock valued at $33,000 after acquiring an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Cardinal Health by 55.0% in the 2nd 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, Quent Capital LLC purchased a new stake in Cardinal Health in the 3rd quarter valued at $35,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Trading Down 1.1%

Shares of CAH stock opened at $222.59 on Friday. The stock has a 50 day simple moving average of $210.86 and a 200-day simple moving average of $184.06. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth 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 announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. On average, equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a $0.5107 dividend. 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 29.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho lifted 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. Leerink Partners raised their price target on Cardinal Health from $240.00 to $268.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. TD Cowen increased their price objective on Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Finally, Jefferies Financial Group boosted their target price on Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.