Mcdonald Partners LLC Makes New Investment in Cardinal Health, Inc. $CAH

Mcdonald Partners LLC bought a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,713 shares of the company’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategy Asset Managers LLC acquired a new stake in shares of Cardinal Health in the 3rd quarter valued at $775,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after buying an additional 5,030 shares in the last quarter. Versor Investments LP bought a new stake in shares of Cardinal Health during the 3rd quarter worth $2,090,000. Atle Fund Management AB lifted its position in shares of Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after buying an additional 3,500 shares during the last quarter. Finally, Candriam S.C.A. boosted its stake in Cardinal Health by 10.8% in the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock valued at $30,790,000 after buying an additional 19,155 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen boosted their target price on Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Zacks Research raised shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. Mizuho upped their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Argus raised their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, Evercore boosted their target price on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. One equities 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’s stock. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $223.11 on Thursday. The company has a 50 day simple moving average of $215.28 and a 200 day simple moving average of $188.84. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The firm has a market cap of $52.50 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last posted its earnings results 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 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 period in the previous year, the firm posted $1.93 EPS. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a 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.