Tredje AP fonden Purchases 5,808 Shares of Cardinal Health, Inc. $CAH

Tredje AP fonden lifted its stake in Cardinal Health, Inc. (NYSE:CAH) by 30.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 25,008 shares of the company’s stock after buying an additional 5,808 shares during the period. Tredje AP fonden’s holdings in Cardinal Health were worth $3,925,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $584,420,000. Acadian Asset Management LLC grew its stake in Cardinal Health by 92.5% in the second quarter. Acadian Asset Management LLC now owns 1,679,176 shares of the company’s stock worth $282,063,000 after purchasing an additional 807,063 shares during the period. Prudential Financial Inc. grew its position in shares of Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after buying an additional 730,209 shares during the period. Voya Investment Management LLC boosted its stake in Cardinal Health by 298.3% during the third quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock worth $128,978,000 after acquiring an additional 615,398 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Cardinal Health by 237.6% during the third quarter. AustralianSuper Pty Ltd now owns 680,173 shares of the company’s stock valued at $106,760,000 after purchasing an additional 478,689 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Up 0.7%

Shares of NYSE:CAH opened at $224.22 on Friday. The stock has a market capitalization of $52.76 billion, a P/E ratio of 32.26, a PEG ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $230.81. The firm has a fifty day simple moving average of $211.38 and a two-hundred day simple moving average of $184.69.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.32. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The firm had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be paid a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is currently 29.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. Argus increased their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Wells Fargo & Company raised their price target on Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $244.20.

Cardinal Health Company Profile

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.