Focus Partners Advisor Solutions LLC Has $348,000 Stock Position in Cardinal Health, Inc. $CAH

Key Points

• Focus Partners Advisor Solutions LLC cut its stake in Cardinal Health by 68.8% in Q3, selling 4,886 shares and leaving it with 2,220 shares worth about $348,000.
• Cardinal Health beat quarterly estimates with $2.63 EPS vs. $2.31 expected and revenue of $65.63B (up 18.8% YoY), prompting multiple analyst price-target upgrades (average target ≈ $245.67) and the announcement of a $0.5107 quarterly dividend.

Focus Partners Advisor Solutions LLC lessened its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 68.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,220 shares of the company's stock after selling 4,886 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Cardinal Health were worth $348,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CAH. Strategy Asset Managers LLC acquired a new stake in Cardinal Health during the third quarter worth approximately $775,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Cardinal Health by 15.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company's stock valued at $5,938,000 after buying an additional 5,030 shares during the period. Versor Investments LP acquired a new position in Cardinal Health in the third quarter valued at approximately $2,090,000. Atle Fund Management AB boosted its holdings in shares of Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company's stock worth $4,755,000 after buying an additional 3,500 shares in the last quarter. Finally, Candriam S.C.A. boosted its holdings in shares of Cardinal Health by 10.8% during the 3rd quarter. Candriam S.C.A. now owns 196,163 shares of the company's stock worth $30,790,000 after buying an additional 19,155 shares in the last quarter. Institutional investors own 87.17% of the company's stock.

Cardinal Health Trading Up 2.1%

NYSE CAH opened at $222.30 on Tuesday. The company has a market cap of $52.31 billion, a P/E ratio of 31.99, a PEG ratio of 1.40 and a beta of 0.65. The company has a fifty day simple moving average of $215.95 and a 200 day simple moving average of $190.54. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $233.60.

Cardinal Health (NYSE:CAH - Get Free Report) last released 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 firm had revenue of $65.63 billion for 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 business's revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.93 earnings per share. Sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health's dividend payout ratio (DPR) is currently 29.35%.

Analysts Set New Price Targets

Several analysts have recently weighed in on CAH shares. 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. Leerink Partners reissued an "outperform" rating and set a $275.00 target price on shares of Cardinal Health in a research note on Monday. Mizuho raised their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an "outperform" rating in a report on Friday, February 6th. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the company a "buy" rating in a research note on Friday, February 6th. Finally, Zacks Research raised shares of Cardinal Health from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $245.67.

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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