Alaska Permanent Fund Corp Increases Position in Cardinal Health, Inc. (NYSE:CAH)

Alaska Permanent Fund Corp lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 38.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,095 shares of the company’s stock after acquiring an additional 5,804 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Cardinal Health were worth $2,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC bought a new stake in Cardinal Health in the third quarter valued at about $26,000. BKM Wealth Management LLC bought a new stake in Cardinal Health in the fourth quarter valued at about $30,000. Wetzel Investment Advisors Inc. bought a new stake in Cardinal Health in the fourth quarter valued at about $36,000. Headlands Technologies LLC bought a new stake in Cardinal Health in the third quarter valued at about $47,000. Finally, McGlone Suttner Wealth Management Inc. bought a new stake in Cardinal Health in the fourth quarter valued at about $59,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. SVB Leerink began coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 target price for the company. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Wednesday. UBS Group upped their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 5th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Trading Up 0.3 %

Shares of NYSE CAH opened at $103.81 on Friday. The stock has a 50 day simple moving average of $109.54 and a 200-day simple moving average of $104.58. The company has a market cap of $25.25 billion, a PE ratio of 40.87, a P/E/G ratio of 1.00 and a beta of 0.68. Cardinal Health, Inc. has a 12-month low of $77.56 and a 12-month high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.26. The business had revenue of $57.45 billion during the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.32 earnings per share. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a $0.5006 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. Cardinal Health’s dividend payout ratio (DPR) is 78.74%.

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.