Forsta AP Fonden Sells 200 Shares of Cardinal Health, Inc. (NYSE:CAH)

Forsta AP Fonden lessened its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 108,500 shares of the company’s stock after selling 200 shares during the quarter. Forsta AP Fonden’s holdings in Cardinal Health were worth $12,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAH. State Street Corp raised its position in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after acquiring an additional 627,253 shares in the last quarter. Two Sigma Advisers LP raised its position in Cardinal Health by 47.9% during the third quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after acquiring an additional 346,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Cardinal Health by 230.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after purchasing an additional 333,095 shares during the period. Wedge Capital Management L L P NC bought a new position in shares of Cardinal Health in the third quarter valued at approximately $30,820,000. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Cardinal Health by 77.3% in the third quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock valued at $65,539,000 after purchasing an additional 258,541 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH opened at $127.53 on Thursday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $131.29. The firm’s fifty day moving average price is $121.90 and its two-hundred day moving average price is $113.75. The company has a market capitalization of $30.86 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same quarter in the previous year, the company earned $1.73 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.59%. Cardinal Health’s dividend payout ratio is currently 39.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group lifted their price target on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. Barclays lifted their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Cardinal Health from $132.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $135.21.

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.