2,086,309 Shares in Cardinal Health, Inc. (NYSE:CAH) Purchased by Norges Bank

Norges Bank acquired a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,086,309 shares of the company’s stock, valued at approximately $246,748,000. Norges Bank owned approximately 0.86% of Cardinal Health as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp lifted its position in shares of Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock worth $1,566,913,000 after purchasing an additional 627,253 shares during the last quarter. Raymond James Financial Inc. bought a new position in Cardinal Health during the 4th quarter worth approximately $45,115,000. Two Sigma Advisers LP lifted its holdings in Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock worth $118,197,000 after buying an additional 346,362 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Cardinal Health by 230.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock worth $52,819,000 after acquiring an additional 333,095 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC increased its holdings in shares of Cardinal Health by 77.3% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock valued at $65,539,000 after acquiring an additional 258,541 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and lifted their price target for the company from $132.00 to $145.00 in a report on Monday, January 6th. Mizuho began coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Jefferies Financial Group upgraded Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Down 0.2 %

Shares of CAH opened at $136.43 on Monday. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $137.18. The firm has a market capitalization of $32.96 billion, a PE ratio of 25.45, a P/E/G ratio of 1.49 and a beta of 0.66. The firm has a 50-day moving average price of $128.36 and a 200 day moving average price of $120.86.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. On average, equities analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

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 $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.48%. Cardinal Health’s payout ratio is currently 37.69%.

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.