Picton Mahoney Asset Management Cuts Stock Position in Cardinal Health, Inc. $CAH

Picton Mahoney Asset Management decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 59.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,339 shares of the company’s stock after selling 68,360 shares during the quarter. Picton Mahoney Asset Management’s holdings in Cardinal Health were worth $7,274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CAH. SJS Investment Consulting Inc. lifted its stake in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Jones Financial Companies Lllp increased 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 worth $27,000 after buying an additional 14,034 shares during the period. American Capital Advisory LLC lifted its holdings in Cardinal Health by 5,200.0% in the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after buying an additional 208 shares in the last quarter. Vermillion & White Wealth Management Group LLC boosted its position in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after buying an additional 71 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of Cardinal Health during the third quarter valued at about $35,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Performance

NYSE CAH opened at $223.11 on Thursday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The company has a 50-day simple moving average of $215.28 and a 200-day simple moving average of $188.84. The firm has a market capitalization 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 released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. Cardinal Health’s quarterly revenue was up 18.8% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business 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 is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. Cardinal Health’s payout ratio is currently 29.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. Robert W. Baird set a $252.00 target price on Cardinal Health in a research note on Friday, February 6th. Leerink Partners raised their price target 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, Jefferies Financial Group upped their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. One investment 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. According to data from MarketBeat.com, the company currently has an average 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.