CenterBook Partners LP Makes New Investment in Cardinal Health, Inc. $CAH

Key Points

• CenterBook Partners initiated a position in Cardinal Health during the third quarter, purchasing 4,979 shares worth approximately $1.11 million. Institutional investors collectively own 87.17% of the company.
• Analyst sentiment is positive: 16 analysts rate CAH a Buy and three a Hold, with a consensus “Moderate Buy” rating and a $274 price target.
• Cardinal Health reported quarterly EPS of $3.26, above the $2.94 consensus estimate, while revenue rose 5.5% year over year to $67.51 billion. Insiders sold about 210,000 shares worth $49.6 million over the past 90 days.

CenterBook Partners LP bought a new position in Cardinal Health, Inc. (NYSE:CAH - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 4,979 shares of the company's stock, valued at approximately $1,108,000.

Several other large investors have also recently modified their holdings of the stock. Downshift Financial LLC grew its holdings in Cardinal Health by 3,666.7% during the 3rd quarter. Downshift Financial LLC now owns 113 shares of the company's stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Maryland Capital Advisors Inc. raised its position in Cardinal Health by 12,600.0% in the 3rd quarter. Maryland Capital Advisors Inc. now owns 127 shares of the company's stock worth $28,000 after purchasing an additional 126 shares during the period. Investors Research Corp bought a new stake in Cardinal Health in the second quarter worth about $29,000. Allied Private Wealth LLC purchased a new stake in Cardinal Health in the second quarter worth $30,000. Finally, Brown Lisle Cummings Inc. boosted its stake in shares of Cardinal Health by 1,562.5% during the third quarter. Brown Lisle Cummings Inc. now owns 133 shares of the company's stock valued at $30,000 after purchasing an additional 125 shares during the period. Institutional investors own 87.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAH shares. Barclays raised their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Robert W. Baird boosted their price objective on shares of Cardinal Health from $251.00 to $274.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Evercore restated an "outperform" rating and issued a $270.00 price target on shares of Cardinal Health in a report on Wednesday, August 12th. Mizuho set a $290.00 target price on shares of Cardinal Health in a research report on Thursday. Finally, Morgan Stanley boosted their target price on Cardinal Health from $265.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $274.00.

Insider Transactions at Cardinal Health

In related news, insider Michelle Greene sold 11,650 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $235.72, for a total transaction of $2,746,138.00. Following the sale, the insider directly owned 10,330 shares of the company's stock, valued at approximately $2,434,987.60. This represents a 53.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stephen Mason sold 35,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the sale, the chief executive officer owned 18,061 shares in the company, valued at approximately $4,269,620.40. This represents a 65.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 210,271 shares of company stock worth $49,626,657. Insiders own 0.12% of the company's stock.

Cardinal Health Stock Up 0.8%

Shares of NYSE:CAH opened at $273.95 on Tuesday. Cardinal Health, Inc. has a 52-week low of $180.45 and a 52-week high of $286.29. The business has a 50-day moving average price of $241.24 and a 200-day moving average price of $223.87. The stock has a market cap of $63.44 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 1.57 and a beta of 0.53.

Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $3.26 EPS for the quarter, beating the consensus estimate of $2.94 by $0.32. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The business had revenue of $67.51 billion for the quarter, compared to the consensus estimate of $66.67 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Cardinal Health, Inc. will post 12.86 EPS for the current fiscal year.

Cardinal Health Company Profile

Cardinal Health is a healthcare services and products company that distributes pharmaceuticals and medical supplies. Its customers include pharmacies, hospitals, surgery centers, physician offices and other healthcare providers.

The company's businesses include pharmaceutical distribution and specialty services, as well as the sourcing and distribution of medical and surgical products. Its offerings support areas such as specialty medications, medication management and supply-chain operations.

Cardinal Health traces its roots to a wholesale business founded in Ohio in 1971 and later expanded into pharmaceutical distribution.

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