Andra AP fonden Sells 67,100 Shares of Cardinal Health, Inc. $CAH

Andra AP fonden trimmed its holdings in Cardinal Health, Inc. (NYSE:CAH) by 85.7% in the 3rd quarter, Holdings Channel reports. The fund owned 11,200 shares of the company’s stock after selling 67,100 shares during the quarter. Andra AP fonden’s holdings in Cardinal Health were worth $1,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAH. Norges Bank purchased a new position in shares of Cardinal Health during the second quarter valued at approximately $584,420,000. Acadian Asset Management LLC boosted its holdings 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 acquiring an additional 807,063 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Cardinal Health by 476.8% in the second quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock worth $148,402,000 after acquiring an additional 730,209 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Cardinal Health by 298.3% in 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 during the last quarter. Finally, AustralianSuper Pty Ltd increased 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 acquiring an additional 478,689 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.8%

Cardinal Health stock opened at $228.85 on Monday. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $230.81. The company has a market cap of $53.85 billion, a P/E ratio of 32.93, a P/E/G ratio of 1.48 and a beta of 0.65. The business has a 50-day simple moving average of $214.08 and a two-hundred day simple moving average of $187.49.

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

Cardinal Health Dividend Announcement

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

Wall Street Analysts Forecast Growth

CAH has been the topic of several recent analyst reports. Mizuho increased their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. Evercore upped their price objective on Cardinal Health from $250.00 to $260.00 in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price target on Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. Finally, JPMorgan Chase & Co. increased their price objective on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. One equities research 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’s stock. According to MarketBeat, Cardinal Health has an average rating of “Moderate Buy” and an average target price of $245.20.

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.