Numerai GP LLC Purchases New Position in Cardinal Health, Inc. $CAH

Numerai GP LLC acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,352 shares of the company’s stock, valued at approximately $4,136,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Measured Wealth Private Client Group LLC raised its position in Cardinal Health by 22.4% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 1,535 shares of the company’s stock valued at $241,000 after purchasing an additional 281 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Cardinal Health by 66.4% during the third quarter. National Bank of Canada FI now owns 337,923 shares of the company’s stock valued at $53,042,000 after buying an additional 134,831 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Cardinal Health by 6.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 168,457 shares of the company’s stock valued at $26,441,000 after buying an additional 10,826 shares during the period. MFA Wealth Services raised its holdings in shares of Cardinal Health by 2.3% in the third quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock valued at $391,000 after acquiring an additional 55 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its stake in Cardinal Health by 7.2% in the third quarter. Moneta Group Investment Advisors LLC now owns 6,241 shares of the company’s stock worth $980,000 after acquiring an additional 418 shares during the period. 87.17% of the stock is owned by institutional investors.

Cardinal Health Stock Up 0.3%

NYSE:CAH opened at $217.65 on Tuesday. The stock has a market capitalization of $51.22 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.40 and a beta of 0.65. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $233.60. The firm has a 50 day moving average of $217.07 and a 200 day moving average of $192.98.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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 net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same period in the previous year, the company earned $1.93 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors 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 yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 29.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Argus upped their target price on Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Morgan Stanley set a $255.00 target price on Cardinal Health in a research report on Friday, February 6th. Barclays lifted their price target on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Finally, TD Cowen boosted their price target on Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $245.67.

About Cardinal Health

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.