Janus Henderson Group PLC Purchases 559,450 Shares of Cardinal Health, Inc. $CAH

Key Points

• Janus Henderson Group increased its Cardinal Health stake by 317.8% in the first quarter, purchasing 559,450 additional shares for a total position valued at approximately $155.4 million. Institutional investors and hedge funds collectively own 87.17% of the company.
• Cardinal Health reported quarterly EPS of $3.17, beating estimates of $2.79, while revenue rose 11% year over year to $60.94 billion, below the $62.10 billion consensus forecast.
• The company raised its quarterly dividend to $0.5158, or $2.06 annually, producing a 0.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $251.73, compared with a recent share price of $230.18.

Janus Henderson Group PLC increased its position in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 317.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 735,467 shares of the company's stock after buying an additional 559,450 shares during the quarter. Janus Henderson Group PLC owned 0.31% of Cardinal Health worth $155,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Kornitzer Capital Management Inc. KS raised its position in Cardinal Health by 100.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company's stock worth $3,733,000 after purchasing an additional 9,120 shares during the last quarter. Abacus FCF Advisors LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $7,182,000. Byrne Financial Freedom LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at about $1,574,000. Belleair Asset Management LLC acquired a new stake in shares of Cardinal Health in the fourth quarter valued at about $1,100,000. Finally, Axecap Investments LLC bought a new position in shares of Cardinal Health during the fourth quarter worth about $2,371,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Price Performance

NYSE CAH opened at $230.18 on Friday. The business has a 50 day simple moving average of $222.95 and a 200 day simple moving average of $215.30. Cardinal Health, Inc. has a one year low of $137.75 and a one year high of $243.21. The stock has a market capitalization of $53.91 billion, a P/E ratio of 35.20, a P/E/G ratio of 1.11 and a beta of 0.49.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $3.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.38. The firm had revenue of $60.94 billion for the quarter, compared to analyst estimates of $62.10 billion. Cardinal Health had a negative return on equity of 92.61% and a net margin of 0.62%.The company's revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.35 earnings per share. Equities analysts expect that Cardinal Health, Inc. will post 10.77 earnings per share for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.5158 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.06 annualized dividend and a dividend yield of 0.9%. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. Cardinal Health's dividend payout ratio (DPR) is presently 31.50%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America lifted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Weiss Ratings lowered shares of Cardinal Health from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, May 19th. Wells Fargo & Company reduced their price objective on shares of Cardinal Health from $256.00 to $245.00 and set an "overweight" rating on the stock in a research note on Friday, May 1st. Mizuho increased their price objective on shares of Cardinal Health from $235.00 to $240.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Finally, UBS Group lifted their target price on shares of Cardinal Health from $260.00 to $274.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $251.73.

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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