Tema Etfs LLC Decreases Stock Position in Cardinal Health, Inc. $CAH

Tema Etfs LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 32.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,119 shares of the company’s stock after selling 4,786 shares during the period. Tema Etfs LLC’s holdings in Cardinal Health were worth $2,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its position in 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 buying an additional 150 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health during the fourth quarter valued at about $25,000. Jones Financial Companies Lllp increased 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. JPL Wealth Management LLC purchased a new stake in shares of Cardinal Health during the third quarter worth about $31,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Cardinal Health in the third quarter worth about $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. Morgan Stanley set a $255.00 price target on Cardinal Health in a report on Friday, February 6th. Jefferies Financial Group upped their target price on Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Evercore increased their target price on Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Wells Fargo & Company raised their price target on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, Leerink Partners restated an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have given 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 target price of $245.67.

Cardinal Health Stock Performance

Cardinal Health stock opened at $214.00 on Friday. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The firm’s 50-day moving average is $217.52 and its 200-day moving average is $197.78. The company has a market cap of $50.36 billion, a P/E ratio of 30.79, a PEG ratio of 1.37 and a beta of 0.64.

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, beating 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 net margin of 0.68% and a negative return on equity of 92.50%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 EPS. As a group, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is 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.