Intech Investment Management LLC Has $41.48 Million Holdings in Cardinal Health, Inc. $CAH

Intech Investment Management LLC boosted its stake in Cardinal Health, Inc. (NYSE:CAH) by 263.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 264,255 shares of the company’s stock after purchasing an additional 191,472 shares during the period. Intech Investment Management LLC owned about 0.11% of Cardinal Health worth $41,477,000 at the end of the most recent reporting period.

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

Cardinal Health Trading Up 0.1%

NYSE:CAH opened at $226.27 on Thursday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $230.81. The stock has a market capitalization of $53.25 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 1.46 and a beta of 0.64. The firm has a fifty day simple moving average of $213.00 and a two-hundred day simple moving average of $186.16.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share 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 analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.93 earnings per share. Equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

CAH has been the subject of several analyst reports. Morgan Stanley set a $255.00 price target on shares of Cardinal Health in a report on Friday, February 6th. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Jefferies Financial Group lifted their target price on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. TD Cowen boosted their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Finally, Barclays increased their price target on Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday. 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $245.20.

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.