Swedbank AB Has $42.70 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Swedbank AB reduced its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,259 shares of the company’s stock after selling 707 shares during the period. Swedbank AB owned 0.18% of Cardinal Health worth $42,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Clearstead Trust LLC acquired a new stake in Cardinal Health in the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. lifted its stake in shares of Cardinal Health by 4,466.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 274 shares of the company’s stock worth $28,000 after buying an additional 268 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in shares of Cardinal Health in the first quarter worth $32,000. LRI Investments LLC bought a new stake in shares of Cardinal Health during the 1st quarter worth $32,000. Finally, Hexagon Capital Partners LLC grew its stake in Cardinal Health by 53.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 338 shares of the company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CAH shares. Morgan Stanley upped their price target on shares of Cardinal Health from $114.00 to $119.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised their target price on Cardinal Health from $105.00 to $115.00 and gave the company an “in-line” rating in a report on Thursday. Citigroup cut their price target on Cardinal Health from $115.00 to $107.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Argus lowered their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, Robert W. Baird upped their target price on shares of Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and an average price target of $117.45.

Cardinal Health Stock Up 1.8 %

NYSE:CAH opened at $109.89 on Friday. The firm has a market capitalization of $26.77 billion, a PE ratio of 48.84, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. Cardinal Health, Inc. has a 12-month low of $85.11 and a 12-month high of $116.04. The firm has a 50-day moving average price of $99.38 and a 200 day moving average price of $103.23.

Cardinal Health (NYSE:CAH) last issued its earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.10. The business had revenue of $59.87 billion during the quarter, compared to analysts’ expectations of $58.74 billion. Cardinal Health had a negative return on equity of 54.74% and a net margin of 0.25%. Cardinal Health’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. On average, research analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.506 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.84%. Cardinal Health’s dividend payout ratio is presently 89.78%.

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.