Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Quantinno Capital Management LP

Posted by Defense World Staff on Jul 30th, 2023

Quantinno Capital Management LP grew its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 126.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,589 shares of the company’s stock after acquiring an additional 5,905 shares during the quarter. Quantinno Capital Management LP’s holdings in Cardinal Health were worth $800,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Delta Asset Management LLC TN acquired a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. lifted its holdings in shares of Cardinal Health by 888.6% during the fourth quarter. SJS Investment Consulting Inc. now owns 346 shares of the company’s stock worth $27,000 after purchasing an additional 311 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Cardinal Health during the first quarter worth $27,000. Retirement Group LLC lifted its holdings in shares of Cardinal Health by 1,539.3% during the fourth quarter. Retirement Group LLC now owns 459 shares of the company’s stock worth $35,000 after purchasing an additional 431 shares during the period. Finally, GPS Wealth Strategies Group LLC acquired a new stake in shares of Cardinal Health during the first quarter worth $38,000. 85.40% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Down 0.8 %

Shares of CAH stock opened at $91.69 on Friday. Cardinal Health, Inc. has a fifty-two week low of $58.72 and a fifty-two week high of $95.10. The stock has a market cap of $23.34 billion, a P/E ratio of 52.70, a P/E/G ratio of 1.04 and a beta of 0.79. The business has a fifty day simple moving average of $90.02 and a 200-day simple moving average of $81.99.

Cardinal Health (NYSE:CAH – Get Free Report) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.26. Cardinal Health had a negative return on equity of 81.55% and a net margin of 0.23%. The business had revenue of $50.50 billion during the quarter, compared to analysts’ expectations of $49.63 billion. During the same quarter last year, the business posted $1.45 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, sell-side analysts anticipate that Cardinal Health, Inc. will post 5.73 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 15th. Investors of record on Monday, July 3rd were paid a dividend of $0.5006 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s dividend payout ratio (DPR) is presently 114.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho increased their price target on Cardinal Health from $85.00 to $94.00 in a report on Tuesday, July 11th. Robert W. Baird increased their price target on Cardinal Health from $97.00 to $103.00 in a report on Friday, June 9th. Barclays increased their price target on Cardinal Health from $80.00 to $85.00 in a report on Friday, June 9th. Bank of America increased their price target on Cardinal Health from $91.00 to $99.00 in a report on Monday, July 17th. Finally, TheStreet upgraded Cardinal Health from a “d+” rating to a “b-” rating in a research report on Thursday, May 4th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.00.

Cardinal Health Company Profile

(Free Report)

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.