Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,783 shares of the company’s stock after acquiring an additional 4,140 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cardinal Health were worth $4,705,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CAH. Eastern Bank purchased a new position in Cardinal Health in the 3rd quarter worth approximately $25,000. Frazier Financial Advisors LLC increased its holdings in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after purchasing an additional 104 shares during the period. Hara Capital LLC bought a new position in Cardinal Health during the third quarter valued at about $31,000. AM Squared Ltd acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $33,000. Finally, Kentucky Trust Co purchased a new stake in Cardinal Health in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 0.3 %

Shares of Cardinal Health stock opened at $126.96 on Monday. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84. The business has a fifty day simple moving average of $123.62 and a 200 day simple moving average of $117.33. The stock has a market cap of $30.67 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.59%. Cardinal Health’s dividend payout ratio is currently 37.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CAH shares. Argus set a $148.00 price target on Cardinal Health in a research note on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 7th. Citigroup raised their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 4th. Finally, Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $138.40.

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.