DnB Asset Management AS Buys 3,798 Shares of Cardinal Health, Inc. (NYSE:CAH)

DnB Asset Management AS lifted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 9.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,475 shares of the company's stock after buying an additional 3,798 shares during the period. DnB Asset Management AS's holdings in Cardinal Health were worth $5,142,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CAH. Thrivent Financial for Lutherans raised its holdings in shares of Cardinal Health by 23.9% during the third quarter. Thrivent Financial for Lutherans now owns 12,727 shares of the company's stock valued at $1,406,000 after buying an additional 2,451 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Cardinal Health during the 3rd quarter worth $1,691,000. Public Sector Pension Investment Board grew its stake in shares of Cardinal Health by 12.7% in the third quarter. Public Sector Pension Investment Board now owns 10,637 shares of the company's stock worth $1,176,000 after purchasing an additional 1,200 shares in the last quarter. Fred Alger Management LLC raised its stake in shares of Cardinal Health by 4.7% during the third quarter. Fred Alger Management LLC now owns 31,052 shares of the company's stock valued at $3,432,000 after purchasing an additional 1,383 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Cardinal Health by 230.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company's stock valued at $52,819,000 after buying an additional 333,095 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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Cardinal Health Price Performance

Shares of Cardinal Health stock traded down $1.59 during midday trading on Thursday, hitting $137.08. 1,797,636 shares of the company were exchanged, compared to its average volume of 2,107,815. The firm has a 50 day simple moving average of $128.98 and a 200-day simple moving average of $121.33. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $139.39. The firm has a market cap of $33.11 billion, a P/E ratio of 25.55, a PEG ratio of 1.49 and a beta of 0.66.

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, topping analysts' consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.48%. Cardinal Health's dividend payout ratio (DPR) is 37.69%.

Analyst Ratings Changes

Several equities research analysts recently commented on CAH shares. Evercore ISI raised Cardinal Health from an "in-line" rating to an "outperform" rating and set a $140.00 target price on the stock in a report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of 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. Argus set a $148.00 target price on shares of Cardinal Health in a research note on Tuesday, February 4th. TD Cowen raised Cardinal Health from a "hold" rating to a "buy" rating and upped their price target for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. raised their price objective on Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $140.14.

Cardinal Health Company 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.