Intech Investment Management LLC Has $41.48 Million Position in Cardinal Health, Inc. $CAH

Intech Investment Management LLC raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 263.1% in the third quarter, HoldingsChannel.com reports. The firm owned 264,255 shares of the company’s stock after buying an additional 191,472 shares during the period. Intech Investment Management LLC’s holdings in Cardinal Health were worth $41,477,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its holdings in shares of Cardinal Health by 6.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after acquiring an additional 280 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Brighton Jones LLC increased its holdings in Cardinal Health by 6.8% during the 2nd quarter. Brighton Jones LLC now owns 4,760 shares of the company’s stock worth $800,000 after purchasing an additional 303 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Cardinal Health during the 2nd quarter worth approximately $659,000. Finally, OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Cardinal Health in the second quarter worth approximately $277,000. 87.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAH. TD Cowen lifted their target price on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. JPMorgan Chase & Co. increased their price target on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Finally, Mizuho increased their target price 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. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $245.20.

Cardinal Health Price Performance

Shares of Cardinal Health stock opened at $226.27 on Thursday. The firm has a market cap of $53.25 billion, a PE ratio of 32.56, a P/E/G ratio of 1.46 and a beta of 0.64. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $230.81. The stock has a fifty day moving average price of $213.00 and a 200-day moving average price of $186.16.

Cardinal Health (NYSE:CAH) last issued its quarterly 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. 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 the consensus estimate of $64.88 billion. During the same period in the previous year, the firm earned $1.93 EPS. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. The ex-dividend date 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 presently 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.