Schroder Investment Management Group lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 31.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,191 shares of the company's stock after purchasing an additional 16,845 shares during the period. Schroder Investment Management Group's holdings in Cardinal Health were worth $8,277,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Cambridge Financial Group Inc. purchased a new stake in shares of Cardinal Health during the fourth quarter valued at approximately $9,150,000. Allstate Corp purchased a new position in shares of Cardinal Health in the 4th quarter worth about $844,000. DnB Asset Management AS grew its position in Cardinal Health by 9.6% during the fourth quarter. DnB Asset Management AS now owns 43,475 shares of the company's stock valued at $5,142,000 after buying an additional 3,798 shares during the period. Orion Portfolio Solutions LLC raised its position in Cardinal Health by 11.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 51,001 shares of the company's stock worth $6,032,000 after acquiring an additional 5,037 shares during the period. Finally, Pictet Asset Management Holding SA boosted its stake in Cardinal Health by 19.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 142,345 shares of the company's stock valued at $16,835,000 after acquiring an additional 23,374 shares during the last quarter. 87.17% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CAH has been the topic of a number of research reports. Argus set a $148.00 price target on shares of Cardinal Health in a report on Tuesday, February 4th. Jefferies Financial Group raised Cardinal Health from a "hold" rating to a "buy" rating and upped their price target for the company from $140.00 to $150.00 in a research report on Wednesday, February 5th. Wells Fargo & Company lifted their price objective on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, TD Cowen upgraded shares of 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 research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.14.
Read Our Latest Analysis on CAH
Cardinal Health Trading Up 4.6 %
Shares of CAH traded up $5.75 during trading hours on Wednesday, reaching $130.75. 4,287,129 shares of the company's stock traded hands, compared to its average volume of 2,167,872. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $139.50. The stock has a market cap of $31.59 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The firm's 50 day simple moving average is $129.13 and its 200-day simple moving average is $122.10.
Cardinal Health (NYSE:CAH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 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%. As a group, analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.
Cardinal Health Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health's payout ratio is currently 37.69%.
About Cardinal Health
(
Free Report)
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.
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