Swedbank AB Acquires 1,112 Shares of Cardinal Health, Inc. (NYSE:CAH)

Swedbank AB grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 435,371 shares of the company’s stock after purchasing an additional 1,112 shares during the period. Swedbank AB owned approximately 0.18% of Cardinal Health worth $48,117,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Eastern Bank bought a new position in Cardinal Health in the third quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in shares of Cardinal Health during the 2nd quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its position in Cardinal Health by 69.8% during the 3rd 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. Ashton Thomas Private Wealth LLC bought a new position in Cardinal Health in the 2nd quarter valued at approximately $29,000. Finally, Hara Capital LLC acquired a new stake in Cardinal Health in the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CAH shares. JPMorgan Chase & Co. increased their price target on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Argus lifted their price target on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group boosted their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Robert W. Baird lifted their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.00.

Cardinal Health Trading Down 1.3 %

Shares of CAH opened at $121.84 on Monday. The firm’s fifty day simple moving average is $113.90 and its two-hundred day simple moving average is $105.96. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $126.14. The stock has a market capitalization of $29.49 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 1.54 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company had revenue of $52.28 billion for the quarter, compared to analyst estimates of $50.90 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts predict that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a yield of 1.66%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is presently 39.30%.

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.