Handelsbanken Fonder AB Sells 12,905 Shares of Cardinal Health, Inc. (NYSE:CAH)

Handelsbanken Fonder AB lessened its position in Cardinal Health, Inc. (NYSE:CAH) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 113,860 shares of the company’s stock after selling 12,905 shares during the period. Handelsbanken Fonder AB’s holdings in Cardinal Health were worth $11,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of CAH. Aaron Wealth Advisors LLC grew its position in Cardinal Health by 1.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,369 shares of the company’s stock worth $844,000 after purchasing an additional 97 shares during the last quarter. Schechter Investment Advisors LLC grew its position in Cardinal Health by 4.1% in the 4th quarter. Schechter Investment Advisors LLC now owns 2,480 shares of the company’s stock worth $250,000 after purchasing an additional 98 shares during the last quarter. Cypress Capital Group grew its position in Cardinal Health by 0.7% in the 3rd quarter. Cypress Capital Group now owns 17,133 shares of the company’s stock worth $1,487,000 after purchasing an additional 111 shares during the last quarter. MBM Wealth Consultants LLC grew its position in Cardinal Health by 3.7% in the 3rd quarter. MBM Wealth Consultants LLC now owns 3,238 shares of the company’s stock worth $302,000 after purchasing an additional 115 shares during the last quarter. Finally, Monument Capital Management grew its position in Cardinal Health by 3.0% in the 3rd quarter. Monument Capital Management now owns 4,639 shares of the company’s stock worth $403,000 after purchasing an additional 136 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Analyst Upgrades and Downgrades

CAH has been the topic of several research analyst reports. UBS Group raised their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. TheStreet lowered shares of Cardinal Health from a “b-” rating to a “c+” rating in a research report on Wednesday, December 27th. Argus upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. SVB Leerink started coverage on shares of Cardinal Health in a research note on Monday, February 26th. They issued an “outperform” rating and a $125.00 target price on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cardinal Health currently has an average rating of “Moderate Buy” and a consensus target price of $103.07.

Cardinal Health Trading Up 0.5 %

Shares of CAH stock opened at $103.37 on Wednesday. Cardinal Health, Inc. has a 1 year low of $77.56 and a 1 year high of $116.04. The firm’s 50 day moving average is $109.56 and its 200-day moving average is $104.60. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 40.70, a PEG ratio of 1.04 and a beta of 0.68.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 1st. The company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.26. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company had revenue of $57.45 billion for the quarter, compared to analyst estimates of $57.02 billion. During the same period in the prior year, the business earned $1.32 earnings per share. Cardinal Health’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that Cardinal Health, Inc. will post 7.28 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

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.