Skandinaviska Enskilda Banken AB publ Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,117 shares of the company’s stock after selling 94,271 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.16% of Cardinal Health worth $44,470,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Achmea Investment Management B.V. grew its holdings in Cardinal Health by 43.1% during the 4th quarter. Achmea Investment Management B.V. now owns 198,698 shares of the company’s stock worth $23,500,000 after acquiring an additional 59,836 shares in the last quarter. Vestcor Inc increased its holdings in Cardinal Health by 8.8% in the fourth quarter. Vestcor Inc now owns 13,844 shares of the company’s stock valued at $1,637,000 after buying an additional 1,115 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Cardinal Health by 1.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,034 shares of the company’s stock valued at $950,000 after buying an additional 99 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Cardinal Health by 4.0% in the 4th quarter. Farther Finance Advisors LLC now owns 7,732 shares of the company’s stock worth $914,000 after acquiring an additional 297 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Cardinal Health by 14.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 8,799 shares of the company’s stock valued at $1,041,000 after acquiring an additional 1,129 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CAH shares. Argus set a $148.00 price objective on shares of Cardinal Health in a report on Tuesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 4th. TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and raised their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and upped their target price for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Finally, Mizuho began coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

Cardinal Health Stock Up 2.2 %

CAH stock opened at $126.87 on Thursday. The company has a 50-day simple moving average of $125.99 and a 200 day simple moving average of $119.14. The company has a market capitalization of $30.65 billion, a P/E ratio of 23.67, a PEG ratio of 1.49 and a beta of 0.66. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $132.84.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (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%. Equities analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio is presently 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.