Janus Henderson Group PLC Buys 559,450 Shares of Cardinal Health, Inc. $CAH

by · The Markets Daily

Janus Henderson Group PLC boosted its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 317.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 735,467 shares of the company’s stock after acquiring an additional 559,450 shares during the quarter. Janus Henderson Group PLC’s holdings in Cardinal Health were worth $155,391,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAH. HF Advisory Group LLC lifted its holdings in shares of Cardinal Health by 0.9% in the 4th quarter. HF Advisory Group LLC now owns 5,227 shares of the company’s stock worth $1,074,000 after purchasing an additional 49 shares in the last quarter. Kathmere Capital Management LLC increased its stake in Cardinal Health by 1.2% during the 1st quarter. Kathmere Capital Management LLC now owns 4,242 shares of the company’s stock valued at $896,000 after purchasing an additional 49 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Cardinal Health by 0.9% during the fourth quarter. Hillsdale Investment Management Inc. now owns 5,760 shares of the company’s stock worth $1,184,000 after buying an additional 50 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in Cardinal Health by 2.6% during the first quarter. V Square Quantitative Management LLC now owns 2,002 shares of the company’s stock worth $423,000 after buying an additional 50 shares during the last quarter. Finally, Generali Asset Management SPA SGR lifted its stake in shares of Cardinal Health by 11.0% in the fourth quarter. Generali Asset Management SPA SGR now owns 513 shares of the company’s stock valued at $105,000 after buying an additional 51 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAH. Citigroup lifted their price objective on shares of Cardinal Health from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, July 24th. Bank of America raised their price target on shares of Cardinal Health from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Wall Street Zen upgraded Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Morgan Stanley increased their price objective on Cardinal Health from $245.00 to $255.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Evercore dropped their target price on Cardinal Health from $260.00 to $240.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Fifteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $251.73.

Read Our Latest Report on CAH

Cardinal Health Price Performance

Shares of CAH stock opened at $230.18 on Friday. The firm has a 50-day moving average of $222.95 and a 200-day moving average of $215.30. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The company has a market cap of $53.91 billion, a P/E ratio of 35.20, a P/E/G ratio of 1.11 and a beta of 0.49.

Cardinal Health (NYSE:CAH – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $3.17 EPS for the quarter, topping the consensus estimate of $2.79 by $0.38. Cardinal Health had a net margin of 0.62% and a negative return on equity of 92.61%. The firm had revenue of $60.94 billion for the quarter, compared to analysts’ expectations of $62.10 billion. During the same quarter last year, the firm earned $2.35 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Cardinal Health, Inc. will post 10.77 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.5158 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is 31.50%.

Cardinal Health Profile

(Free Report)

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.

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