Livforsakringsbolaget Skandia Omsesidigt raised its position in Cardinal Health, Inc. (NYSE:CAH – Free Report) by 9.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 116,599 shares of the company’s stock after purchasing an additional 10,500 shares during the period. Cardinal Health comprises approximately 1.0% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 21st biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cardinal Health were worth $24,634,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in CAH. Nordea Investment Management AB grew its position in shares of Cardinal Health by 328.3% in the fourth quarter. Nordea Investment Management AB now owns 645,436 shares of the company’s stock valued at $133,741,000 after purchasing an additional 494,731 shares during the last quarter. Procyon Advisors LLC raised its position in shares of Cardinal Health by 78.7% during the 4th quarter. Procyon Advisors LLC now owns 17,025 shares of the company’s stock worth $3,499,000 after purchasing an additional 7,499 shares during the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Cardinal Health by 100.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 18,164 shares of the company’s stock valued at $3,733,000 after buying an additional 9,120 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in Cardinal Health by 73.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 76,736 shares of the company’s stock valued at $12,044,000 after buying an additional 32,464 shares in the last quarter. Finally, Achmea Investment Management B.V. grew its holdings in Cardinal Health by 4.3% during the 3rd quarter. Achmea Investment Management B.V. now owns 203,341 shares of the company’s stock valued at $31,917,000 after buying an additional 8,381 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.
Cardinal Health Stock Down 1.7%
Shares of Cardinal Health stock opened at $229.63 on Wednesday. Cardinal Health, Inc. has a fifty-two week low of $137.75 and a fifty-two week high of $243.21. The firm has a market cap of $53.78 billion, a PE ratio of 35.11, a P/E/G ratio of 1.14 and a beta of 0.49. The business’s fifty day moving average is $213.81 and its two-hundred day moving average is $213.39.
Cardinal Health Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.5158 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. Cardinal Health’s dividend payout ratio is 31.50%.
Analyst Ratings Changes
Several research firms have weighed in on CAH. William Blair initiated coverage on Cardinal Health in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Robert W. Baird set a $248.00 price objective on Cardinal Health in a research note on Friday, May 1st. Bank of America lifted their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Morgan Stanley upped their target price on shares of Cardinal Health from $245.00 to $255.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings cut shares of Cardinal Health from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. Fifteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.13.
Get Our Latest Analysis on CAH
Cardinal Health 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.
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