BI Asset Management Fondsmaeglerselskab A S Acquires 6,894 Shares of Cardinal Health, Inc. (NYSE:CAH)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 238.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,783 shares of the company’s stock after acquiring an additional 6,894 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cardinal Health were worth $1,095,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Patron Partners LLC purchased a new position in Cardinal Health during the first quarter valued at $213,000. Whittier Trust Co. lifted its position in shares of Cardinal Health by 42.1% during the 1st quarter. Whittier Trust Co. now owns 1,208 shares of the company’s stock valued at $135,000 after buying an additional 358 shares in the last quarter. Mutual Advisors LLC grew its stake in shares of Cardinal Health by 32.5% during the 1st quarter. Mutual Advisors LLC now owns 15,548 shares of the company’s stock valued at $1,740,000 after acquiring an additional 3,816 shares during the period. Chase Investment Counsel Corp purchased a new stake in Cardinal Health in the 1st quarter worth approximately $3,169,000. Finally, Daiwa Securities Group Inc. raised its stake in Cardinal Health by 37.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 37,753 shares of the company’s stock worth $4,224,000 after acquiring an additional 10,317 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 0.1 %

Cardinal Health stock traded down $0.13 during mid-day trading on Wednesday, reaching $95.88. 253,850 shares of the company’s stock traded hands, compared to its average volume of 2,186,890. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The stock has a 50 day moving average of $98.91 and a two-hundred day moving average of $104.25. The company has a market cap of $23.35 billion, a price-to-earnings ratio of 42.67, a PEG ratio of 1.07 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last announced its earnings results 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. The firm had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 EPS. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

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

Analyst Upgrades and Downgrades

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