Cardinal Health, Inc. (NYSE:CAH) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,860 shares of the company’s stock after selling 12,905 shares during the period. Handelsbanken Fonder AB’s holdings in Cardinal Health were worth $11,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its holdings in shares of Cardinal Health by 121.6% during the 4th quarter. CWM LLC now owns 12,164 shares of the company’s stock worth $1,226,000 after buying an additional 6,675 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Cardinal Health by 3.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,794 shares of the company’s stock worth $2,298,000 after buying an additional 672 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Cardinal Health by 7.5% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 15,957 shares of the company’s stock worth $1,608,000 after buying an additional 1,119 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Cardinal Health by 12.8% during the 4th quarter. Signaturefd LLC now owns 2,532 shares of the company’s stock worth $255,000 after buying an additional 288 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its position in Cardinal Health by 23.7% during the 4th quarter. Lindbrook Capital LLC now owns 945 shares of the company’s stock worth $95,000 after purchasing an additional 181 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. SVB Leerink assumed coverage on shares of Cardinal Health in a research report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Barclays assumed coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $117.00 price target for the company. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. TheStreet cut shares of Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Cardinal Health has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Price Performance

NYSE:CAH opened at $103.37 on Wednesday. The firm has a 50-day moving average of $109.56 and a two-hundred day moving average of $104.60. The stock has a market cap of $25.14 billion, a P/E ratio of 40.70, a PEG ratio of 1.04 and a beta of 0.68. Cardinal Health, Inc. has a 1-year low of $77.56 and a 1-year high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter last year, the company posted $1.32 earnings per share. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 annualized dividend and a dividend yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.