Integral Health Asset Management LLC Lowers Holdings in Cardinal Health, Inc. $CAH

Integral Health Asset Management LLC lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 7.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 130,000 shares of the company’s stock after selling 10,000 shares during the period. Cardinal Health makes up 1.4% of Integral Health Asset Management LLC’s investment portfolio, making the stock its 19th largest holding. Integral Health Asset Management LLC owned 0.05% of Cardinal Health worth $20,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. iSAM Funds UK Ltd purchased a new stake in shares of Cardinal Health during the 3rd quarter worth approximately $1,148,000. Wellington Management Group LLP increased its stake in Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Cardinal Health during the third quarter worth $314,000. Prudential PLC raised its holdings in Cardinal Health by 114.6% during the third quarter. Prudential PLC now owns 12,694 shares of the company’s stock worth $1,992,000 after purchasing an additional 6,779 shares during the last quarter. Finally, Perbak Capital Partners LLP purchased a new stake in Cardinal Health during the third quarter worth $264,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAH has been the topic of several recent research reports. TD Cowen boosted their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Morgan Stanley set a $255.00 price target on shares of Cardinal Health in a report on Friday, February 6th. Evercore increased their price target on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Finally, UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Price Performance

NYSE CAH opened at $216.95 on Friday. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60. The firm has a market capitalization of $51.05 billion, a P/E ratio of 31.22, a P/E/G ratio of 1.41 and a beta of 0.65. The business’s 50-day simple moving average is $216.83 and its 200-day simple moving average is $191.88.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate 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 net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently announced 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 (DPR) is currently 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.