Nordea Investment Management AB Purchases 494,731 Shares of Cardinal Health, Inc. $CAH

Nordea Investment Management AB boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 328.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 645,436 shares of the company’s stock after acquiring an additional 494,731 shares during the period. Nordea Investment Management AB’s holdings in Cardinal Health were worth $133,741,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CAH. Aventura Private Wealth LLC bought a new position in shares of Cardinal Health in the fourth quarter worth about $25,000. SJS Investment Consulting Inc. boosted its stake in Cardinal Health by 1,363.6% during the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares during the period. JPL Wealth Management LLC acquired a new stake in Cardinal Health in the 3rd quarter valued at approximately $31,000. Turning Point Benefit Group Inc. acquired a new stake in Cardinal Health in the 3rd quarter valued at approximately $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after buying an additional 71 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Down 1.4%

Shares of NYSE:CAH opened at $207.91 on Monday. The firm has a market capitalization of $48.92 billion, a PE ratio of 29.92, a PEG ratio of 1.34 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. The business’s 50 day moving average is $217.62 and its 200-day moving average is $194.73.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business 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%.Cardinal Health’s revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio is currently 29.35%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAH. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 12th. Wall Street Zen lowered shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Barclays upped their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Citigroup raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price target for the company from $190.00 to $244.00 in a report on Friday, January 9th. Finally, Mizuho boosted their price objective on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $245.67.

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.