Numerai GP LLC Acquires Shares of 26,352 Cardinal Health, Inc. $CAH

Numerai GP LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,352 shares of the company’s stock, valued at approximately $4,136,000.

A number of other institutional investors have also recently made changes to their positions in CAH. Measured Wealth Private Client Group LLC boosted its holdings in Cardinal Health by 22.4% in the third quarter. Measured Wealth Private Client Group LLC now owns 1,535 shares of the company’s stock worth $241,000 after purchasing an additional 281 shares during the last quarter. National Bank of Canada FI raised its stake in Cardinal Health by 66.4% during the 3rd quarter. National Bank of Canada FI now owns 337,923 shares of the company’s stock worth $53,042,000 after acquiring an additional 134,831 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of Cardinal Health by 6.9% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 168,457 shares of the company’s stock valued at $26,441,000 after purchasing an additional 10,826 shares during the period. MFA Wealth Services lifted its position in shares of Cardinal Health by 2.3% in the third quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock valued at $391,000 after acquiring an additional 55 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Cardinal Health by 7.2% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 6,241 shares of the company’s stock worth $980,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.3%

Cardinal Health stock opened at $217.65 on Tuesday. The company’s 50-day moving average price is $217.07 and its 200-day moving average price is $192.98. Cardinal Health, Inc. has a twelve month low of $120.72 and a twelve month high of $233.60. The company has a market cap of $51.22 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The firm 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 firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 EPS. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The firm 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. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is 29.35%.

Wall Street Analyst Weigh In

CAH has been the topic of several research analyst reports. Barclays boosted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Mizuho boosted their target price on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. 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 note on Tuesday, February 10th. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Robert W. Baird set a $252.00 price objective on Cardinal Health in a research note 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $245.67.

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.