Nordea Investment Management AB Purchases 1,259 Shares of Cardinal Health, Inc. (NYSE:CAH)

Nordea Investment Management AB grew its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 22,372 shares of the company’s stock after buying an additional 1,259 shares during the period. Nordea Investment Management AB’s holdings in Cardinal Health were worth $2,659,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Eastern Bank purchased a new stake in shares of Cardinal Health during the 3rd quarter valued at approximately $25,000. Frazier Financial Advisors LLC raised its holdings in Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC purchased a new stake in shares of Cardinal Health during the third quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Cardinal Health in the second quarter worth $29,000. Finally, AM Squared Ltd bought a new position in shares of Cardinal Health in the third quarter worth $33,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CAH shares. UBS Group increased their price objective on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Evercore ISI upgraded Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price target on the stock in a research report on Tuesday, January 7th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $144.00 in a research report on Wednesday. Citigroup upped their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Barclays raised their price target on shares of Cardinal Health from $117.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.29.

Cardinal Health Stock Performance

Shares of NYSE:CAH opened at $121.70 on Friday. The firm has a market capitalization of $29.45 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. Cardinal Health, Inc. has a 52-week low of $93.17 and a 52-week high of $126.23. The firm has a fifty day moving average of $119.88 and a 200 day moving average of $111.01.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to analysts’ expectations of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.73 EPS. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.82 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

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.