Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 238.6% during the 1st quarter, Holdings Channel reports. The fund owned 9,783 shares of the company’s stock after purchasing an additional 6,894 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cardinal Health were worth $1,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Clearstead Trust LLC purchased a new position in shares of Cardinal Health during the 4th quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its position in Cardinal Health by 4,466.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock valued at $28,000 after buying an additional 268 shares during the period. BKM Wealth Management LLC purchased a new position in Cardinal Health in the fourth quarter valued at $30,000. YHB Investment Advisors Inc. acquired a new position in shares of Cardinal Health in the first quarter worth about $32,000. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Cardinal Health by 53.6% during the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock worth $34,000 after acquiring an additional 118 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 0.1 %

Shares of Cardinal Health stock traded down $0.13 during trading hours on Wednesday, reaching $95.88. 253,850 shares of the company’s stock were exchanged, compared to its average volume of 2,186,890. The business has a fifty day moving average of $98.91 and a two-hundred day moving average of $104.25. The company has a market capitalization of $23.35 billion, a P/E ratio of 42.67, a price-to-earnings-growth ratio of 1.07 and a beta of 0.61. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion during the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter in the prior year, the company earned $1.74 EPS. Cardinal Health’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.5056 per share. This is an increase from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a yield of 2.11%. Cardinal Health’s dividend payout ratio (DPR) is presently 89.78%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CAH shares. Evercore ISI reduced their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating for the company in a report on Tuesday. Wells Fargo & Company cut their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. Robert W. Baird increased their target price on Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. StockNews.com lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Argus decreased their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Cardinal Health 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.