15,000 Shares in Cardinal Health, Inc. $CAH Purchased by Strive Asset Management LLC

Strive Asset Management LLC purchased a new position in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, HoldingsChannel reports. The firm purchased 15,000 shares of the company’s stock, valued at approximately $2,354,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAH. Norges Bank acquired a new position in shares of Cardinal Health in the 2nd quarter worth approximately $584,420,000. Acadian Asset Management LLC boosted its holdings in Cardinal Health by 92.5% during the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after buying an additional 807,063 shares in the last quarter. Prudential Financial Inc. grew its position in Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after buying an additional 730,209 shares during the last quarter. Voya Investment Management LLC grew its position in Cardinal Health by 298.3% in the third quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock worth $128,978,000 after buying an additional 615,398 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Cardinal Health by 237.6% in the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock valued at $106,760,000 after buying an additional 478,689 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAH. UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a report on Friday, February 6th. Barclays lifted their price target on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Leerink Partners lifted their target price on shares of Cardinal Health from $268.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Morgan Stanley set a $255.00 price target on shares of Cardinal Health in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Price Performance

NYSE CAH opened at $230.12 on Tuesday. The company has a 50 day simple moving average of $214.58 and a 200-day simple moving average of $188.06. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $233.60. The firm has a market capitalization of $54.15 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share 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%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 EPS. On average, analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a 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.