SG Americas Securities LLC Buys 708,995 Shares of Cardinal Health, Inc. $CAH

SG Americas Securities LLC grew its stake in Cardinal Health, Inc. (NYSE:CAH) by 3,829.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 727,511 shares of the company’s stock after acquiring an additional 708,995 shares during the quarter. SG Americas Securities LLC owned about 0.31% of Cardinal Health worth $149,504,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Integrated Wealth Concepts LLC lifted its stake in shares of Cardinal Health by 6.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company’s stock worth $601,000 after purchasing an additional 280 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Cardinal Health by 198.3% in the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Magnetar Financial LLC bought a new position in Cardinal Health in the second quarter worth about $501,000. Hillsdale Investment Management Inc. bought a new position in Cardinal Health in the second quarter worth about $808,000. Finally, Franklin Resources Inc. lifted its position in shares of Cardinal Health by 249.0% during the second quarter. Franklin Resources Inc. now owns 313,627 shares of the company’s stock valued at $52,689,000 after buying an additional 223,759 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH stock opened at $206.20 on Tuesday. The business has a fifty day moving average of $217.70 and a 200 day moving average of $195.13. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The firm has a market capitalization of $48.52 billion, a price-to-earnings ratio of 29.67, a price-to-earnings-growth ratio of 1.34 and a beta of 0.65.

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

Cardinal Health Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CAH. Robert W. Baird set a $252.00 price target on shares of Cardinal Health in a report on Friday, February 6th. Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a research report on Friday, February 6th. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a report on Monday, March 9th. Finally, Evercore upped their price target on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average price target of $245.67.

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.