Cardinal Health, Inc. $CAH Holdings Raised by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 328.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 645,436 shares of the company’s stock after buying an additional 494,731 shares during the period. Nordea Investment Management AB owned about 0.27% of Cardinal Health worth $133,741,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CAH. SJS Investment Consulting Inc. raised its holdings in shares of Cardinal Health by 1,363.6% during the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in Cardinal Health during the fourth quarter valued at $25,000. 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 in the last quarter. JPL Wealth Management LLC purchased a new position in Cardinal Health in the third quarter valued at about $31,000. Finally, Turning Point Benefit Group Inc. acquired a new position in Cardinal Health in the 3rd quarter worth about $31,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Performance

CAH opened at $207.91 on Monday. The company has a market cap of $48.92 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.65. The stock has a 50-day moving average of $217.62 and a 200-day moving average of $194.73. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $233.60.

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

Cardinal Health Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CAH. Barclays lifted their price target on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Wells Fargo & Company increased their price objective on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research report on Friday, February 6th. Robert W. Baird set a $252.00 target price on shares of Cardinal Health in a research note on Friday, February 6th. Finally, Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $245.67.

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.