Holocene Advisors LP Has $302.33 Million Holdings in Cardinal Health, Inc. $CAH

Holocene Advisors LP lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 141.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,926,170 shares of the company’s stock after purchasing an additional 1,128,358 shares during the quarter. Holocene Advisors LP owned 0.81% of Cardinal Health worth $302,332,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP grew its position 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 during the period. Norges Bank bought a new stake in Cardinal Health during the 2nd quarter valued at $584,420,000. Barclays PLC raised its holdings in Cardinal Health by 109.3% during the third quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock worth $248,658,000 after buying an additional 827,446 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after buying an additional 730,209 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Cardinal Health by 44.9% in the third quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after buying an additional 707,495 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAH. Deutsche Bank Aktiengesellschaft boosted 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. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the company from $190.00 to $244.00 in a research report on Friday, January 9th. TD Cowen lifted their price target on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Argus increased their price objective on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Finally, UBS Group set a $260.00 target price on Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $245.67.

Cardinal Health Price Performance

Shares of CAH stock opened at $216.95 on Monday. The firm has a 50-day moving average of $216.83 and a 200-day moving average of $192.50. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The company 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 (NYSE:CAH) last released its quarterly 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 company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same period last year, the firm earned $1.93 earnings per share. The firm’s revenue was up 18.8% on a year-over-year basis. As a group, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given 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 0.9%. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

About Cardinal Health

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.