Pensionfund Sabic Buys Shares of 8,700 Cardinal Health, Inc. $CAH

Pensionfund Sabic acquired a new position in Cardinal Health, Inc. (NYSE:CAHFree Report) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 8,700 shares of the company’s stock, valued at approximately $1,788,000.

Several other large investors have also recently bought and sold shares of the stock. SJS Investment Consulting Inc. boosted its holdings in shares of Cardinal Health by 1,363.6% in the third quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Cardinal Health during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its holdings in Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after purchasing an additional 14,034 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in Cardinal Health in the third quarter worth approximately $31,000. Finally, Turning Point Benefit Group Inc. acquired a new stake in Cardinal Health in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.4%

NYSE:CAH opened at $207.22 on Wednesday. The business’s fifty day moving average price is $217.68 and its 200 day moving average price is $195.54. The firm has a market capitalization of $48.76 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 1.33 and a beta of 0.65. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $233.60.

Cardinal Health (NYSE:CAHGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The firm had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $1.93 EPS. Equities analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is currently 29.35%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CAH. Mizuho raised their target price on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Argus lifted their price objective on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wells Fargo & Company boosted their target price on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Finally, Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $245.67.

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About Cardinal Health

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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