Skandinaviska Enskilda Banken AB publ Sells 94,271 Shares of Cardinal Health, Inc. (NYSE:CAH)

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 377,117 shares of the company's stock after selling 94,271 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.16% of Cardinal Health worth $44,470,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Frazier Financial Advisors LLC lifted its position in shares of Cardinal Health by 69.8% in the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company's stock worth $28,000 after purchasing an additional 104 shares in the last quarter. Promus Capital LLC bought a new stake in shares of Cardinal Health in the 4th quarter valued at approximately $30,000. AM Squared Ltd acquired a new position in Cardinal Health in the third quarter worth approximately $33,000. Kentucky Trust Co bought a new position in Cardinal Health during the fourth quarter valued at approximately $41,000. Finally, HHM Wealth Advisors LLC lifted its stake in Cardinal Health by 57.6% in 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 during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CAH. Morgan Stanley raised their price target on shares of Cardinal Health from $136.00 to $142.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company boosted their price target on Cardinal Health from $135.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Argus set a $148.00 price objective on 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 target price for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Finally, TD Cowen upgraded shares of Cardinal Health from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $139.36.

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Cardinal Health Stock Up 1.5 %

NYSE:CAH traded up $1.86 during trading hours on Monday, reaching $129.86. The company had a trading volume of 1,834,738 shares, compared to its average volume of 1,978,961. The stock has a 50-day moving average of $126.33 and a two-hundred day moving average of $119.44. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $132.84. The firm has a market capitalization of $31.37 billion, a PE ratio of 24.23, a PEG ratio of 1.49 and a beta of 0.66.

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

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Tuesday, April 1st. Cardinal Health's dividend payout ratio is 37.69%.

About Cardinal Health

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.