Handelsbanken Fonder AB Purchases 4,140 Shares of Cardinal Health, Inc. (NYSE:CAH)

Handelsbanken Fonder AB lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 11.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,783 shares of the company’s stock after purchasing an additional 4,140 shares during the period. Handelsbanken Fonder AB’s holdings in Cardinal Health were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Eastern Bank acquired a new stake in Cardinal Health during the third quarter worth approximately $25,000. Frazier Financial Advisors LLC lifted its stake in shares of Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the last quarter. Hara Capital LLC bought a new position in shares of Cardinal Health in the 3rd quarter valued at $31,000. AM Squared Ltd acquired a new position in Cardinal Health during the 3rd quarter worth about $33,000. Finally, Kentucky Trust Co acquired a new position in Cardinal Health during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAH. Wells Fargo & Company boosted their price objective on Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 4th. Mizuho began coverage on Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, January 7th. Citigroup increased their price objective on Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.40.

Cardinal Health Price Performance

NYSE CAH opened at $126.96 on Monday. The stock has a market capitalization of $30.67 billion, a PE ratio of 23.69, a PEG ratio of 1.49 and a beta of 0.63. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $132.84. The business’s 50-day moving average is $123.62 and its 200 day moving average is $117.33.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.59%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

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.