Cardinal Health, Inc. $CAH is Sivik Global Healthcare LLC’s 7th Largest Position

Sivik Global Healthcare LLC reduced its position in Cardinal Health, Inc. (NYSE:CAH) by 13.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 32,500 shares of the company’s stock after selling 5,000 shares during the period. Cardinal Health makes up approximately 1.9% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 7th biggest position. Sivik Global Healthcare LLC’s holdings in Cardinal Health were worth $6,679,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SJS Investment Consulting Inc. raised its stake in shares of Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp boosted its holdings in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Cardinal Health in the 3rd quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. acquired a new position in Cardinal Health in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CAH shares. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Wells Fargo & Company lifted their price target 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. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a research note on Friday, February 6th. Finally, UBS Group set a $260.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Performance

Shares of NYSE CAH opened at $212.50 on Wednesday. The stock has a market cap of $50.01 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.38 and a beta of 0.64. The firm has a 50 day moving average price of $217.63 and a 200 day moving average price of $199.80. Cardinal Health, Inc. has a 52-week low of $121.17 and a 52-week high of $233.60.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.93 earnings per share. Analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is 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.