Pensionfund Sabic Invests $1.79 Million in Cardinal Health, Inc. $CAH

Pensionfund Sabic bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 8,700 shares of the company’s stock, valued at approximately $1,788,000.

Several other institutional investors and hedge funds have also made changes to their positions in CAH. Focus Financial Network Inc. acquired a new position in Cardinal Health in the 4th quarter worth $219,000. Quantum Financial Advisors LLC acquired a new position in shares of Cardinal Health in the fourth quarter worth about $228,000. Contravisory Investment Management Inc. purchased a new position in Cardinal Health in the fourth quarter valued at about $80,000. SG Americas Securities LLC boosted its holdings in Cardinal Health by 3,829.1% in the fourth quarter. SG Americas Securities LLC now owns 727,511 shares of the company’s stock valued at $149,504,000 after purchasing an additional 708,995 shares during the last quarter. Finally, Inspirion Wealth Advisors LLC acquired a new stake in Cardinal Health during the 4th quarter valued at approximately $301,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley set a $255.00 price objective on Cardinal Health in a report on Friday, February 6th. Argus increased their target price on Cardinal Health from $232.00 to $248.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Jefferies Financial Group raised their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on shares of Cardinal Health from $237.00 to $256.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Finally, UBS Group set a $260.00 price target on shares of Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.67.

Check Out Our Latest Research Report on CAH

More Cardinal Health News

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Cardinal Health Stock Performance

Shares of CAH opened at $207.22 on Wednesday. The firm has a fifty day moving average of $217.68 and a 200-day moving average of $195.54. The company has a market cap of $48.76 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth 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 released its quarterly earnings data on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion for the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 EPS. Analysts predict that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 annualized dividend and a dividend yield of 1.0%. Cardinal Health’s dividend payout ratio (DPR) is presently 29.35%.

Cardinal Health Company Profile

(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

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

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