Cardinal Health, Inc. $CAH Shares Acquired by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in Cardinal Health by 14.4% in Q4, owning 78,139 shares worth about $16.06 million after buying an additional 9,823 shares.
• Cardinal Health beat estimates for the quarter with $2.63 EPS vs. $2.31 expected and reported revenue of $65.63 billion, up 18.8% year-over-year.
• Wall Street sentiment is broadly positive — MarketBeat shows a consensus rating of "Moderate Buy" with an average target of $244.33 and multiple firms raising targets (e.g., Jefferies $270, UBS $260, Argus $248).

Assetmark Inc. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,139 shares of the company's stock after buying an additional 9,823 shares during the quarter. Assetmark Inc.'s holdings in Cardinal Health were worth $16,058,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CAH. SJS Investment Consulting Inc. grew its position in Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its holdings in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after buying an additional 14,034 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of Cardinal Health during the third quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of Cardinal Health during the third quarter worth approximately $31,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Argus lifted their target price on Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a research note on Wednesday, February 11th. UBS Group set a $260.00 price target on Cardinal Health and gave the stock a "buy" rating in a research note on Friday, February 6th. Jefferies Financial Group lifted their price objective on shares of Cardinal Health from $220.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of Cardinal Health from $209.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, February 10th. Finally, Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a research report on Friday, February 6th. One investment 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $244.33.

Cardinal Health Stock Up 0.7%

NYSE:CAH opened at $213.22 on Friday. The stock has a fifty day simple moving average of $217.50 and a 200 day simple moving average of $202.17. The firm has a market capitalization of $50.17 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64. Cardinal Health, Inc. has a 1-year low of $129.52 and a 1-year high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts' consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The business's quarterly revenue was up 18.8% on a year-over-year basis. Equities analysts predict 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 was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were paid a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, April 1st. Cardinal Health's payout ratio is 29.35%.

About Cardinal Health

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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