Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp raised its position in shares of Cardinal Health, Inc. (NYSE:CAH – Get Rating) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,853 shares of the company’s stock after acquiring an additional 1,127 shares during the quarter. Van ECK Associates Corp’s holdings in Cardinal Health were worth $1,924,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in shares of Cardinal Health by 2.1% during the first quarter. State Street Corp now owns 21,802,799 shares of the company’s stock valued at $1,246,751,000 after acquiring an additional 457,777 shares during the last quarter. Invesco Ltd. grew its position in shares of Cardinal Health by 9.0% in the first quarter. Invesco Ltd. now owns 6,186,052 shares of the company’s stock valued at $350,748,000 after purchasing an additional 511,826 shares in the last quarter. Amundi grew its position in shares of Cardinal Health by 880.8% in the second quarter. Amundi now owns 5,043,836 shares of the company’s stock valued at $272,619,000 after purchasing an additional 4,529,560 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Cardinal Health by 1.8% in the second quarter. Federated Hermes Inc. now owns 2,808,710 shares of the company’s stock valued at $146,811,000 after purchasing an additional 50,660 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Cardinal Health by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,937,468 shares of the company’s stock valued at $109,855,000 after purchasing an additional 41,859 shares in the last quarter. Institutional investors and hedge funds own 88.93% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the subject of a number of analyst reports. Mizuho upped their price target on Cardinal Health from $66.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, November 14th. Credit Suisse Group increased their price objective on Cardinal Health from $64.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 22nd. Robert W. Baird increased their price objective on Cardinal Health from $74.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, November 7th. Morgan Stanley increased their price objective on Cardinal Health from $82.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. Finally, Bank of America upgraded Cardinal Health from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $64.00 to $80.00 in a research report on Friday, November 4th. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $76.82.

Cardinal Health Stock Up 0.5 %

CAH opened at $76.87 on Friday. Cardinal Health, Inc. has a 52 week low of $49.09 and a 52 week high of $81.57. The business has a fifty day simple moving average of $78.36 and a 200-day simple moving average of $69.96. The firm has a market cap of $20.15 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.24 and a beta of 0.81.

Cardinal Health (NYSE:CAH – Get Rating) last released its quarterly earnings results on Friday, November 4th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.96 by $0.24. Cardinal Health had a negative return on equity of 252.82% and a negative net margin of 0.59%. The business had revenue of $49.60 billion during the quarter, compared to analyst estimates of $46.88 billion. Sell-side analysts expect that Cardinal Health, Inc. will post 5.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 15th. Stockholders of record on Tuesday, January 3rd will be paid a $0.4957 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, December 30th. Cardinal Health’s payout ratio is currently 32.35%.

Insider Activity

In other news, insider Ola M. Snow sold 19,590 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $78.87, for a total value of $1,545,063.30. Following the sale, the insider now directly owns 31,187 shares in the company, valued at $2,459,718.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Cardinal Health Company Profile

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Cardinal Health, Inc operates as an integrated 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.