Cardinal Health, Inc. $CAH Stake Boosted by Legacy Capital Group California Inc.

Key Points

• Legacy Capital Group raised its stake in Cardinal Health by 223.5% in Q3 to 12,353 shares (about $1.94M), and institutional investors now own roughly 87.17% of the stock.
• Cardinal Health beat quarterly estimates with EPS of $2.63 (vs. $2.31) and revenue of $65.63B (up 18.8% YoY), but reported a low net margin of 0.68% and a negative return on equity of 92.5%.
• The company declared a quarterly dividend of $0.5107 (annualized $2.04, yield 0.9%), while analysts remain generally positive with an average target of about $245.67 and a majority of Buy ratings.

Legacy Capital Group California Inc. raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 223.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,353 shares of the company's stock after purchasing an additional 8,535 shares during the period. Legacy Capital Group California Inc.'s holdings in Cardinal Health were worth $1,939,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SJS Investment Consulting Inc. grew its position in shares of Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company's stock valued at $25,000 after buying an additional 150 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company's stock worth $34,000 after acquiring an additional 71 shares during the last quarter. American Capital Advisory LLC boosted its stake in Cardinal Health by 5,200.0% in the third quarter. American Capital Advisory LLC now owns 212 shares of the company's stock valued at $33,000 after acquiring an additional 208 shares during the period. Quent Capital LLC acquired a new position in Cardinal Health in the third quarter valued at approximately $35,000. Finally, AlphaCore Capital LLC bought a new position in shares of Cardinal Health during the second quarter valued at approximately $41,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Performance

Shares of CAH opened at $217.89 on Friday. Cardinal Health, Inc. has a one year low of $120.72 and a one year high of $233.60. The stock's fifty day moving average is $215.65 and its 200-day moving average is $189.50. The firm has a market capitalization of $51.27 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 1.39 and a beta of 0.65.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.93 earnings per share. Analysts forecast that Cardinal Health, Inc. will post 7.95 EPS 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 paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is presently 29.35%.

Analyst Ratings Changes

Several analysts recently issued reports on CAH shares. Zacks Research raised Cardinal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Evercore increased their target price on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Jefferies Financial Group raised their target price on Cardinal Health from $220.00 to $270.00 and gave the company a "buy" rating in a research note on Thursday, January 22nd. Argus boosted their price target on shares of Cardinal Health from $232.00 to $248.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen lowered shares of Cardinal Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 21st. One research 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, the stock 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.

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