Cinctive Capital Management LP Buys Shares of 50,279 Cardinal Health, Inc. $CAH

Cinctive Capital Management LP bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the third quarter, HoldingsChannel reports. The fund bought 50,279 shares of the company’s stock, valued at approximately $7,892,000.

Other institutional investors also recently modified their holdings of the company. SJS Investment Consulting Inc. lifted its stake in shares of Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Jones Financial Companies Lllp grew its position in Cardinal Health by 198.3% during the 1st 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 grew its position in 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 acquiring an additional 208 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its holdings in Cardinal Health by 55.0% in the 2nd 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 in the last quarter. Finally, Quent Capital LLC acquired a new position in Cardinal Health in the 3rd quarter worth about $35,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Barclays upped their price objective on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. 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 report on Friday, February 6th. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a report on Friday, February 6th. One 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Price Performance

Cardinal Health stock opened at $216.95 on Friday. The stock’s 50 day moving average is $216.83 and its 200 day moving average is $192.20. The firm has a market cap of $51.05 billion, a P/E ratio of 31.22, a P/E/G ratio of 1.40 and a beta of 0.65. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share 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 business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is currently 29.35%.

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.