Cardinal Health, Inc. $CAH Shares Acquired by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,378 shares of the company’s stock after buying an additional 2,845 shares during the period. Vinva Investment Management Ltd’s holdings in Cardinal Health were worth $2,686,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Strategy Asset Managers LLC acquired a new position in shares of Cardinal Health in the third quarter valued at about $775,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after purchasing an additional 5,030 shares during the period. Versor Investments LP purchased a new stake in Cardinal Health in the third quarter valued at approximately $2,090,000. Atle Fund Management AB increased its holdings in Cardinal Health by 13.1% in 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 period. Finally, Candriam S.C.A. increased its holdings in Cardinal Health by 10.8% in the 3rd quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after buying an additional 19,155 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Shares of NYSE CAH opened at $222.30 on Tuesday. The stock has a market capitalization of $52.31 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 1.40 and a beta of 0.65. The firm’s 50 day simple moving average is $215.95 and its 200-day simple moving average is $190.54. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $64.88 billion. During the same period in the previous year, the business posted $1.93 EPS. The business’s revenue was up 18.8% compared to the same quarter last year. Analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be given a $0.5107 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is 29.35%.

Analysts Set New Price Targets

Several brokerages have commented on CAH. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $190.00 to $244.00 in a research note on Friday, January 9th. TD Cowen increased their price objective on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Evercore raised their target price on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. JPMorgan Chase & Co. boosted their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a report on Monday. One research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.