Swedbank AB Grows Stake in Cardinal Health, Inc. (NYSE:CAH)

Swedbank AB lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 435,371 shares of the company’s stock after buying an additional 1,112 shares during the quarter. Swedbank AB’s holdings in Cardinal Health were worth $48,117,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Eastern Bank bought a new position in Cardinal Health during the third quarter valued at $25,000. Cultivar Capital Inc. purchased a new position in shares of Cardinal Health during the 2nd quarter valued at $27,000. Frazier Financial Advisors LLC grew its stake in shares of 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 acquiring an additional 104 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Cardinal Health in the 2nd quarter worth about $29,000. Finally, Hara Capital LLC bought a new stake in Cardinal Health in the 3rd quarter valued at about $31,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Down 1.3 %

NYSE:CAH opened at $121.84 on Monday. The stock has a market cap of $29.49 billion, a P/E ratio of 23.70, a PEG ratio of 1.54 and a beta of 0.60. The business’s 50-day moving average price is $113.90 and its two-hundred day moving average price is $105.96. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.14.

Cardinal Health (NYSE:CAH) last announced its earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating 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 business had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period last year, the firm posted $1.73 earnings per share. Cardinal Health’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts expect 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 given a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s dividend payout ratio (DPR) is presently 39.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Argus increased their target price on shares of Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. UBS Group raised their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on Cardinal Health from $119.00 to $124.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Mizuho lifted their price target on Cardinal Health from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $123.00.

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.