BI Asset Management Fondsmaeglerselskab A S Increases Holdings in Cardinal Health, Inc. (NYSE:CAH)

BI Asset Management Fondsmaeglerselskab A S increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 183.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,380 shares of the company’s stock after acquiring an additional 58,525 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cardinal Health were worth $10,689,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Cardinal Health during the fourth quarter worth $246,748,000. Marshall Wace LLP boosted its stake in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company’s stock worth $372,756,000 after purchasing an additional 1,913,892 shares during the period. Bank of Nova Scotia grew its holdings in Cardinal Health by 1,142.4% during the 4th quarter. Bank of Nova Scotia now owns 545,313 shares of the company’s stock valued at $64,494,000 after purchasing an additional 501,421 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Cardinal Health in the 4th quarter worth about $45,115,000. Finally, Renaissance Group LLC lifted its stake in Cardinal Health by 4,375.6% in the fourth quarter. Renaissance Group LLC now owns 265,044 shares of the company’s stock worth $31,347,000 after purchasing an additional 259,122 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Price Performance

Shares of CAH stock opened at $134.61 on Friday. The stock’s 50-day moving average is $130.03 and its 200 day moving average is $123.24. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $139.50. The company has a market cap of $32.52 billion, a P/E ratio of 25.11, a PEG ratio of 1.49 and a beta of 0.61.

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

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.5056 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.50%. Cardinal Health’s dividend payout ratio is presently 37.69%.

Analysts Set New Price Targets

CAH has been the topic of several recent analyst reports. Bank of America increased their price target on Cardinal Health from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Morgan Stanley lifted their target price on Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Jefferies Financial Group upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Mizuho upped their target price on shares of Cardinal Health from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, March 31st. Finally, Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target for the company in a research note on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $140.86.

Cardinal Health Company 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.