Tredje AP fonden Buys 5,808 Shares of Cardinal Health, Inc. $CAH

Tredje AP fonden grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 30.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,008 shares of the company’s stock after buying an additional 5,808 shares during the period. Tredje AP fonden’s holdings in Cardinal Health were worth $3,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CAH. Vanguard Group Inc. boosted its stake in shares of Cardinal Health by 0.8% during the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock valued at $4,838,054,000 after purchasing an additional 247,667 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after buying an additional 205,539 shares during the last quarter. Norges Bank bought a new stake in Cardinal Health during the second quarter worth $584,420,000. Invesco Ltd. boosted its position in Cardinal Health by 7.3% in the second quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock worth $510,347,000 after purchasing an additional 207,750 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Cardinal Health by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after purchasing an additional 45,812 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Up 0.7%

Shares of Cardinal Health stock opened at $224.22 on Friday. The company’s 50-day moving average price is $211.38 and its 200-day moving average price is $184.69. Cardinal Health, Inc. has a 12-month low of $120.72 and a 12-month high of $230.81. The company has a market cap of $52.76 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.45 and a beta of 0.64.

Cardinal Health (NYSE:CAH) last posted its earnings results 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. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. Cardinal Health’s revenue was up 18.8% on a year-over-year basis. On average, sell-side analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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 issued a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s payout ratio is currently 29.35%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CAH shares. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research note on Friday, February 6th. TD Cowen boosted their target price on Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Leerink Partners upped their price objective on shares of Cardinal Health from $240.00 to $268.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.20.

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.