Cinctive Capital Management LP Invests $7.89 Million in Cardinal Health, Inc. $CAH

Cinctive Capital Management LP purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,279 shares of the company’s stock, valued at approximately $7,892,000.

Other institutional investors have also made changes to their positions in the company. Latitude Advisors LLC increased its stake in Cardinal Health by 2.1% during the 3rd quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock worth $408,000 after acquiring an additional 53 shares during the period. WESPAC Advisors LLC raised its holdings in Cardinal Health by 1.0% in the 3rd quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock valued at $1,043,000 after acquiring an additional 63 shares in the last quarter. Kathmere Capital Management LLC lifted its position in shares of Cardinal Health by 1.6% during the 3rd quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after acquiring an additional 65 shares during the period. Regal Investment Advisors LLC grew its holdings in shares of Cardinal Health by 2.1% during the 3rd quarter. Regal Investment Advisors LLC now owns 3,109 shares of the company’s stock worth $488,000 after purchasing an additional 65 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in shares of Cardinal Health by 55.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 71 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CAH shares. Mizuho boosted their price target on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. 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. Wells Fargo & Company raised their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Leerink Partners restated an “outperform” rating and issued a $275.00 target price on shares of Cardinal Health in a research report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Stock Performance

Cardinal Health stock opened at $216.95 on Friday. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $233.60. The stock has a market capitalization of $51.05 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The stock has a fifty day moving average of $216.83 and a 200-day moving average of $192.20.

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. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same period last year, the firm posted $1.93 earnings per share. Cardinal Health’s revenue was up 18.8% compared to the same quarter last year. On average, research analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current 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 $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 29.35%.

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.