Jupiter Asset Management Ltd. Acquires Shares of 298,883 Cardinal Health, Inc. $CAH

Jupiter Asset Management Ltd. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 298,883 shares of the company’s stock, valued at approximately $46,913,000. Jupiter Asset Management Ltd. owned approximately 0.13% of Cardinal Health as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Latitude Advisors LLC raised its holdings in shares of Cardinal Health by 2.1% during the third quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after acquiring an additional 53 shares during the last quarter. WESPAC Advisors LLC increased its position in shares of Cardinal Health by 1.0% during the third quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock worth $1,043,000 after purchasing an additional 63 shares in the last quarter. Kathmere Capital Management LLC raised its stake in Cardinal Health by 1.6% in the 3rd quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after purchasing an additional 65 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings 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 purchasing an additional 71 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its stake in Cardinal Health by 4.0% during the 3rd quarter. Woodward Diversified Capital LLC now owns 1,854 shares of the company’s stock worth $291,000 after purchasing an additional 72 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE:CAH opened at $222.59 on Friday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $230.81. The firm has a market capitalization of $52.38 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. The business’s fifty day moving average price is $210.86 and its 200 day moving average price is $184.06.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $64.88 billion. During the same period in the prior year, the firm posted $1.93 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 currently 29.35%.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. Wells Fargo & Company boosted their target price on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Robert W. Baird set a $252.00 price objective on Cardinal Health in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. upped their target price on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $244.20.

Cardinal Health Company 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.