Mediolanum International Funds Ltd Purchases 4,001 Shares of Cardinal Health, Inc. (NYSE:CAH)

Mediolanum International Funds Ltd lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,854 shares of the company’s stock after purchasing an additional 4,001 shares during the period. Mediolanum International Funds Ltd’s holdings in Cardinal Health were worth $6,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Cardinal Health during the 2nd quarter worth approximately $1,979,000. Creative Planning boosted its position in Cardinal Health by 0.7% in the second quarter. Creative Planning now owns 41,764 shares of the company’s stock worth $4,106,000 after purchasing an additional 308 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Cardinal Health by 3.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 5,503 shares of the company’s stock valued at $541,000 after purchasing an additional 189 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at $6,906,000. Finally, Czech National Bank raised its stake in shares of Cardinal Health by 7.0% during the 3rd quarter. Czech National Bank now owns 49,673 shares of the company’s stock worth $5,490,000 after purchasing an additional 3,259 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CAH has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a report on Tuesday, January 7th. StockNews.com lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley upped their price target on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Barclays lifted their price objective on Cardinal Health from $117.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $135.64.

Cardinal Health Price Performance

NYSE CAH opened at $123.56 on Friday. The company’s 50 day simple moving average is $122.03 and its two-hundred day simple moving average is $114.06. The stock has a market capitalization of $29.90 billion, a PE ratio of 24.04, a P/E/G ratio of 1.55 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.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.84 EPS for the current year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

Cardinal Health Company 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.