DnB Asset Management AS Has $5.14 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

DnB Asset Management AS boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,475 shares of the company’s stock after buying an additional 3,798 shares during the period. DnB Asset Management AS’s holdings in Cardinal Health were worth $5,142,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CAH. Cyrus J. Lawrence LLC acquired a new stake in shares of Cardinal Health during the 4th quarter worth approximately $26,000. Promus Capital LLC bought a new stake in Cardinal Health during the fourth quarter worth $30,000. Lee Danner & Bass Inc. acquired a new stake in shares of Cardinal Health in the 4th quarter valued at $35,000. Kentucky Trust Co bought a new position in shares of Cardinal Health in the 4th quarter valued at $41,000. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Cardinal Health by 57.6% during the 4th quarter. HHM Wealth Advisors LLC now owns 394 shares of the company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. 87.17% of the stock is owned by institutional investors.

Cardinal Health Trading Down 0.2 %

Shares of CAH stock opened at $136.43 on Monday. Cardinal Health, Inc. has a 1-year low of $93.17 and a 1-year high of $137.18. The stock has a market cap of $32.96 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 1.49 and a beta of 0.66. The stock has a 50-day moving average of $128.36 and a 200-day moving average of $120.86.

Cardinal Health (NYSE:CAH) last released its 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%. Sell-side analysts forecast that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The company 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 annualized dividend and a yield of 1.48%. Cardinal Health’s payout ratio is 37.69%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore ISI raised Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective on the stock in a research note on Tuesday, January 7th. Mizuho initiated coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target on the stock. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $144.00 in a research report on Wednesday, January 8th. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company boosted their target price on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.36.

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.