Andra AP fonden Decreases Position in Cardinal Health, Inc. $CAH

Andra AP fonden decreased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 85.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,200 shares of the company’s stock after selling 67,100 shares during the quarter. Andra AP fonden’s holdings in Cardinal Health were worth $1,758,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Banco Santander S.A. grew its stake in Cardinal Health by 12.7% in the 3rd quarter. Banco Santander S.A. now owns 117,354 shares of the company’s stock valued at $18,420,000 after buying an additional 13,228 shares in the last quarter. DNB Asset Management AS boosted its stake in Cardinal Health by 4.0% in the 3rd quarter. DNB Asset Management AS now owns 45,073 shares of the company’s stock worth $7,075,000 after purchasing an additional 1,728 shares during the period. Advisor OS LLC grew its holdings in Cardinal Health by 17.2% during the 3rd quarter. Advisor OS LLC now owns 7,266 shares of the company’s stock valued at $1,141,000 after buying an additional 1,067 shares in the last quarter. Westpac Banking Corp increased its position in shares of Cardinal Health by 1.2% during the third quarter. Westpac Banking Corp now owns 7,318 shares of the company’s stock valued at $1,149,000 after buying an additional 84 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Cardinal Health by 2.7% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 504,523 shares of the company’s stock worth $79,190,000 after buying an additional 13,177 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Ratings Changes

CAH has been the subject of several recent analyst reports. Wall Street Zen cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and raised their price target for the company from $190.00 to $244.00 in a research report on Friday, January 9th. Barclays lifted their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 24th. Wells Fargo & Company upped their price objective on shares of Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Finally, UBS Group set a $260.00 target price on Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.20.

Cardinal Health Trading Up 0.8%

Shares of NYSE CAH opened at $228.85 on Monday. The firm has a fifty day simple moving average of $214.08 and a two-hundred day simple moving average of $187.49. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $230.81. The firm has a market capitalization of $53.85 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 1.48 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last announced its earnings results 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 net margin of 0.68% and a negative return on equity of 92.50%. The firm had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, sell-side analysts predict 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. 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 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is currently 29.35%.

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.