Vinva Investment Management Ltd Increases Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Vinva Investment Management Ltd lifted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 10.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,971 shares of the company’s stock after buying an additional 1,181 shares during the quarter. Vinva Investment Management Ltd’s holdings in Cardinal Health were worth $1,412,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp lifted its stake in shares of Cardinal Health by 4.6% during the 3rd quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after buying an additional 627,253 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Cardinal Health by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 4,290,650 shares of the company’s stock valued at $474,203,000 after buying an additional 191,568 shares in the last quarter. Amundi lifted its stake in Cardinal Health by 5.5% in the 4th quarter. Amundi now owns 2,116,291 shares of the company’s stock worth $259,309,000 after purchasing an additional 110,605 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cardinal Health by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Morgan Stanley increased their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup increased their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Mizuho started coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Performance

CAH stock opened at $133.02 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $133.77. The firm’s fifty day moving average is $127.15 and its 200 day moving average is $119.87. The firm has a market cap of $32.13 billion, a P/E ratio of 24.82, a P/E/G ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. This represents a $2.02 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is currently 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.