Crossmark Global Holdings Inc. Raises Stake in Cardinal Health, Inc. $CAH

Crossmark Global Holdings Inc. lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,956 shares of the company’s stock after buying an additional 3,434 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cardinal Health were worth $9,411,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Strategy Asset Managers LLC purchased a new position in Cardinal Health during the third quarter worth about $775,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 5,030 shares during the period. Versor Investments LP purchased a new position in shares of Cardinal Health during the 3rd quarter worth about $2,090,000. Atle Fund Management AB boosted its position in shares of Cardinal Health by 13.1% in 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 during the last quarter. Finally, Candriam S.C.A. grew its holdings 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 purchasing an additional 19,155 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH opened at $216.16 on Friday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60. The stock’s 50-day moving average is $215.45 and its two-hundred day moving average is $189.03. The stock has a market cap of $50.87 billion, a PE ratio of 31.10, a P/E/G ratio of 1.44 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last announced 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 business had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company’s revenue was up 18.8% on a year-over-year basis. During the same period last year, the business posted $1.93 EPS. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. 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 presently 29.35%.

Wall Street Analyst Weigh In

CAH has been the topic of a number of recent analyst reports. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the stock from $190.00 to $244.00 in a research note on Friday, January 9th. UBS Group set a $260.00 target price on Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Argus lifted their target price on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. upped their price target on Cardinal Health from $209.00 to $243.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Finally, Jefferies Financial Group raised their price objective on Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $245.67.

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.