Achmea Investment Management B.V. Purchases 8,381 Shares of Cardinal Health, Inc. $CAH

Achmea Investment Management B.V. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,341 shares of the company’s stock after buying an additional 8,381 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.09% of Cardinal Health worth $31,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CAH. Strategy Asset Managers LLC purchased a new position in shares of Cardinal Health in the third quarter worth about $775,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock valued at $5,938,000 after acquiring an additional 5,030 shares during the period. Versor Investments LP purchased a new stake in Cardinal Health during the 3rd quarter valued at about $2,090,000. Atle Fund Management AB grew its position in Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Candriam S.C.A. grew its position in Cardinal Health by 10.8% during the 3rd quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock worth $30,790,000 after acquiring an additional 19,155 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock opened at $216.32 on Wednesday. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The firm’s 50 day moving average price is $217.24 and its 200-day moving average price is $193.45. The stock has a market cap of $50.90 billion, a P/E ratio of 31.13, a PEG ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 earnings per share. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is currently 29.35%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAH. Citigroup raised Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $190.00 to $244.00 in a research note on Friday, January 9th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Mizuho increased their price target on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Leerink Partners reissued an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a report on Monday, March 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company 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.