Citigroup Inc. Has $63.06 Million Stake in Cardinal Health, Inc. $CAH

Citigroup Inc. increased its position in Cardinal Health, Inc. (NYSE:CAH) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,754 shares of the company’s stock after purchasing an additional 4,962 shares during the period. Citigroup Inc.’s holdings in Cardinal Health were worth $63,059,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tredje AP fonden raised its holdings in Cardinal Health by 30.3% during the third quarter. Tredje AP fonden now owns 25,008 shares of the company’s stock worth $3,925,000 after buying an additional 5,808 shares during the last quarter. Hillsdale Investment Management Inc. increased its position in shares of Cardinal Health by 18.7% during the third quarter. Hillsdale Investment Management Inc. now owns 5,710 shares of the company’s stock worth $896,000 after acquiring an additional 900 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Cardinal Health by 24.7% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,196 shares of the company’s stock worth $3,484,000 after acquiring an additional 4,391 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Cardinal Health in the 3rd quarter valued at about $46,913,000. Finally, Cumberland Partners Ltd acquired a new position in Cardinal Health during the 3rd quarter valued at about $942,000. Institutional investors own 87.17% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CAH. Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday. Mizuho upped their price target on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a report on Tuesday, November 18th. Finally, Wells Fargo & Company increased their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.20.

Cardinal Health Price Performance

NYSE CAH opened at $224.83 on Tuesday. The business’s fifty day moving average is $211.88 and its 200-day moving average is $185.40. The stock has a market capitalization of $52.91 billion, a price-to-earnings ratio of 32.35, a PEG ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $230.81.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 earnings per share. Research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s payout ratio is 29.35%.

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.