Qsemble Capital Management LP Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Qsemble Capital Management LP bought a new position in Cardinal Health, Inc. (NYSE:CAH) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,698 shares of the company’s stock, valued at approximately $1,293,000.

Other institutional investors also recently modified their holdings of the company. Eastern Bank purchased a new stake in Cardinal Health in the third quarter worth about $25,000. Frazier Financial Advisors LLC boosted its position in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $27,000. Hara Capital LLC bought a new position in Cardinal Health during the 3rd quarter valued at approximately $31,000. Finally, LRI Investments LLC purchased a new position in Cardinal Health during the first quarter valued at $32,000. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 0.1 %

NYSE CAH opened at $121.77 on Tuesday. The company has a 50-day moving average price of $114.07 and a 200-day moving average price of $106.13. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $126.14. The firm has a market capitalization of $29.47 billion, a P/E ratio of 23.69, a PEG ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The business had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 earnings per share. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.83 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CAH shares. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a report on Thursday, August 15th. Argus increased their price target on shares of Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. raised their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Finally, Mizuho upped their price objective on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Company Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.