Erste Asset Management GmbH Reduces Position in Cardinal Health, Inc. $CAH

Erste Asset Management GmbH decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 64.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,720 shares of the company’s stock after selling 4,993 shares during the period. Erste Asset Management GmbH’s holdings in Cardinal Health were worth $420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CAH. SJS Investment Consulting Inc. increased its position in Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Jones Financial Companies Lllp raised 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 acquiring an additional 14,034 shares during the period. American Capital Advisory LLC raised its stake in Cardinal Health by 5,200.0% during the 3rd quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after acquiring an additional 208 shares during the period. Vermillion & White Wealth Management Group LLC lifted its holdings in Cardinal Health by 55.0% during the second 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, Quent Capital LLC bought a new position in shares of Cardinal Health in the third quarter worth approximately $35,000. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

NYSE:CAH opened at $228.85 on Monday. The company has a market cap of $53.85 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.48 and a beta of 0.65. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $230.81. The stock’s 50 day simple moving average is $214.08 and its two-hundred day simple moving average is $187.49.

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

Cardinal Health Announces Dividend

The firm also recently announced 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 dividend payout ratio is currently 29.35%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CAH. Jefferies Financial Group lifted their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Argus raised their price target on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Morgan Stanley set a $255.00 price objective on Cardinal Health in a research note on Friday, February 6th. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. One research 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’s stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $245.20.

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.