Versor Investments LP Buys Shares of 13,313 Cardinal Health, Inc. $CAH

Versor Investments LP purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,313 shares of the company’s stock, valued at approximately $2,090,000. Cardinal Health accounts for 0.4% of Versor Investments LP’s holdings, making the stock its 26th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Cardinal Health during the second quarter worth $584,420,000. Acadian Asset Management LLC grew its stake in Cardinal Health by 92.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after purchasing an additional 807,063 shares in the last quarter. Prudential Financial Inc. raised its position in Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after purchasing an additional 730,209 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Cardinal Health by 298.3% in the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after buying an additional 615,398 shares during the period. Finally, AustralianSuper Pty Ltd grew its position in shares of Cardinal Health by 237.6% during the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock worth $106,760,000 after buying an additional 478,689 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $225.88 on Tuesday. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $230.81. The stock has a market cap of $53.15 billion, a PE ratio of 32.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.64. The firm has a fifty day moving average price of $207.28 and a 200 day moving average price of $180.77.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research report on Friday. Barclays began coverage on shares of Cardinal Health in a research report on Monday, December 8th. They set an “overweight” rating and a $243.00 price objective for the company. TD Cowen reissued a “buy” rating on shares of Cardinal Health in a report on Tuesday, January 27th. Finally, Argus lifted their price target on Cardinal Health from $211.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Fifteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $241.27.

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.