Harel Insurance Investments & Financial Services Ltd. Takes Position in Cardinal Health, Inc. (NYSE:CAH)

Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,650 shares of the company’s stock, valued at approximately $2,271,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Norges Bank bought a new position in shares of Cardinal Health during the fourth quarter valued at about $220,230,000. Moneta Group Investment Advisors LLC bought a new position in Cardinal Health in the fourth quarter worth about $215,893,000. Ameriprise Financial Inc. raised its stake in Cardinal Health by 82.2% in the third quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after buying an additional 1,862,291 shares in the last quarter. Nomura Holdings Inc. raised its stake in Cardinal Health by 677.5% in the first quarter. Nomura Holdings Inc. now owns 1,350,804 shares of the company’s stock worth $101,986,000 after buying an additional 1,177,066 shares in the last quarter. Finally, Man Group plc raised its stake in Cardinal Health by 68.3% in the fourth quarter. Man Group plc now owns 1,477,702 shares of the company’s stock worth $113,591,000 after buying an additional 599,698 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group increased their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. TheStreet downgraded shares of Cardinal Health from a “b-” rating to a “c+” rating in a research note on Wednesday, December 27th. SVB Leerink assumed coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 price target for the company. Barclays initiated coverage on shares of Cardinal Health in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 price target for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $103.07.

Cardinal Health Stock Down 1.2 %

NYSE:CAH opened at $105.10 on Monday. The company’s 50 day moving average price is $109.32 and its 200-day moving average price is $103.72. Cardinal Health, Inc. has a 52 week low of $77.56 and a 52 week high of $116.04. The stock has a market cap of $25.56 billion, a price-to-earnings ratio of 41.38, a PEG ratio of 1.01 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The firm had revenue of $57.45 billion for the quarter, compared to analysts’ expectations of $57.02 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.5006 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Thursday, March 28th. Cardinal Health’s payout ratio is 78.74%.

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.