Invariant Investment Management Purchases Shares of 5,546 Cardinal Health, Inc. $CAH

Key Points

• Invariant Investment Management bought 5,546 shares of Cardinal Health in Q4—about $1.115 million—making CAH 0.7% of its portfolio and its 16th-largest holding.
• Cardinal Health beat Q4 expectations with EPS $2.63 vs. $2.31 and revenue of $65.63 billion (up 18.8% YoY), though the company shows a negative ROE and slim net margin.
• The company declared a quarterly dividend of $0.5107 (annualized $2.04, ~1.0% yield), while analysts carry a consensus rating of Moderate Buy and an average price target of $244.33.

Invariant Investment Management purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,546 shares of the company's stock, valued at approximately $1,115,000. Cardinal Health makes up 0.7% of Invariant Investment Management's investment portfolio, making the stock its 16th largest position.

A number of other large investors have also added to or reduced their stakes in CAH. Integrated Wealth Concepts LLC increased its holdings in shares of Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock worth $601,000 after buying an additional 280 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock worth $27,000 after buying an additional 14,034 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Cardinal Health in the second quarter worth about $1,935,000. Cerity Partners LLC increased its holdings in shares of Cardinal Health by 17.0% in the second quarter. Cerity Partners LLC now owns 40,426 shares of the company's stock worth $6,792,000 after buying an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC increased its holdings in shares of Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company's stock worth $1,736,000 after buying an additional 2,646 shares during the period. Hedge funds and other institutional investors own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $214.92 on Wednesday. Cardinal Health, Inc. has a 1 year low of $129.52 and a 1 year high of $233.60. The company has a market cap of $50.57 billion, a PE ratio of 30.92, a P/E/G ratio of 1.38 and a beta of 0.64. The stock's 50-day moving average is $217.69 and its 200 day moving average is $202.03.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The company had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter in the previous year, the business earned $1.93 EPS. Cardinal Health's revenue was up 18.8% compared to the same quarter last year. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health's payout ratio is currently 29.35%.

Wall Street Analyst Weigh In

CAH has been the topic of several analyst reports. Robert W. Baird set a $252.00 price objective on Cardinal Health in a report on Friday, February 6th. Zacks Research upgraded Cardinal Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 12th. Wells Fargo & Company lifted their price objective on Cardinal Health from $237.00 to $256.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. lifted their price objective on Cardinal Health from $209.00 to $243.00 and gave the stock a "neutral" rating in a report on Tuesday, February 10th. Finally, Leerink Partners reiterated an "outperform" rating and issued a $275.00 price objective on shares of Cardinal Health in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Cardinal Health currently has a consensus rating of "Moderate Buy" and an average price target of $244.33.

Cardinal Health Company 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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