Norges Bank Purchases Shares of 2,086,309 Cardinal Health, Inc. (NYSE:CAH)

Norges Bank bought a new stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,086,309 shares of the company's stock, valued at approximately $246,748,000. Norges Bank owned 0.86% of Cardinal Health at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cyrus J. Lawrence LLC purchased a new stake in shares of Cardinal Health during the fourth quarter worth about $26,000. Promus Capital LLC purchased a new stake in Cardinal Health in the 4th quarter worth approximately $30,000. Lee Danner & Bass Inc. bought a new stake in shares of Cardinal Health in the 4th quarter worth approximately $35,000. Kentucky Trust Co purchased a new position in shares of Cardinal Health during the fourth quarter valued at approximately $41,000. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 57.6% during the fourth quarter. HHM Wealth Advisors LLC now owns 394 shares of the company's stock valued at $47,000 after acquiring an additional 144 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Stock Down 1.5 %

Shares of Cardinal Health stock traded down $2.08 during trading hours on Thursday, reaching $136.59. 1,744,512 shares of the stock traded hands, compared to its average volume of 2,387,200. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $139.50. The firm has a market capitalization of $33.00 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 1.49 and a beta of 0.66. The company has a 50 day moving average price of $128.98 and a 200 day moving average price of $121.33.

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Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. Cardinal Health's dividend payout ratio is currently 37.69%.

Analyst Upgrades and Downgrades

CAH has been the subject of several research analyst reports. Evercore ISI raised shares of Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price for the company in a research report on Tuesday, January 7th. Bank of America raised Cardinal Health from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Mizuho lifted their price target on shares of Cardinal Health from $142.00 to $150.00 and gave the company an "outperform" rating in a research report on Monday. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and raised their price objective for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, Argus set a $148.00 price target on Cardinal Health in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $140.14.

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.