Clark Capital Management Group Inc. Takes $4.21 Million Position in Cardinal Health, Inc. $CAH

Clark Capital Management Group Inc. purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to its most recent filing with the SEC. The firm purchased 26,822 shares of the company’s stock, valued at approximately $4,210,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategy Asset Managers LLC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $775,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after buying an additional 5,030 shares during the period. Versor Investments LP bought a new position in Cardinal Health during the third quarter worth about $2,090,000. Atle Fund Management AB lifted its holdings in Cardinal Health by 13.1% during the third quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in Cardinal Health by 10.8% in the third quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock valued at $30,790,000 after acquiring an additional 19,155 shares during the period. Institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAH. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the stock from $190.00 to $244.00 in a report on Friday, January 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. Leerink Partners reiterated an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a report on Monday, March 9th. Finally, Evercore increased their price objective on shares of Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Stock Performance

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

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

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given 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 currently 29.35%.

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.