Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. grew its position in Cardinal Health, Inc. (NYSE:CAH) by 71.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,337 shares of the company’s stock after buying an additional 1,395 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Cardinal Health were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Candriam S.C.A. grew its stake in Cardinal Health by 13.2% during the 4th quarter. Candriam S.C.A. now owns 23,827 shares of the company’s stock worth $2,818,000 after purchasing an additional 2,782 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Cardinal Health during the 4th quarter worth $45,115,000. Promus Capital LLC acquired a new position in Cardinal Health during the 4th quarter worth $30,000. Arizona State Retirement System grew its stake in Cardinal Health by 0.7% during the 4th quarter. Arizona State Retirement System now owns 70,278 shares of the company’s stock worth $8,312,000 after purchasing an additional 496 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Cardinal Health during the 4th quarter worth $2,863,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAH has been the subject of several analyst reports. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their target price on Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a report on Tuesday, January 7th. Mizuho assumed coverage on Cardinal Health in a report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price target for the company. Finally, Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $132.00 to $145.00 in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

Cardinal Health Stock Performance

Cardinal Health stock opened at $126.40 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84. The company has a market capitalization of $30.53 billion, a P/E ratio of 23.58, a PEG ratio of 1.49 and a beta of 0.66. The stock has a 50-day simple moving average of $125.58 and a 200-day simple moving average of $118.82.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate 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, analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

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 $0.5056 dividend. This represents a $2.02 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

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.