Vinva Investment Management Ltd Acquires Shares of 71,450 Cardinal Health, Inc. (NYSE:CAH)

Vinva Investment Management Ltd bought a new position in shares of Cardinal Health, Inc. (NYSE:CAHFree Report) in the fourth quarter, HoldingsChannel reports. The firm bought 71,450 shares of the company’s stock, valued at approximately $7,165,000.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its position in shares of Cardinal Health by 82.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,128,009 shares of the company’s stock worth $358,390,000 after purchasing an additional 1,862,291 shares in the last quarter. Northern Trust Corp lifted its position in shares of Cardinal Health by 0.9% during the 3rd quarter. Northern Trust Corp now owns 3,340,547 shares of the company’s stock valued at $290,026,000 after acquiring an additional 28,412 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Cardinal Health by 17.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,619,561 shares of the company’s stock worth $264,052,000 after acquiring an additional 389,431 shares in the last quarter. Norges Bank acquired a new stake in shares of Cardinal Health in the 4th quarter worth approximately $258,499,000. Finally, AQR Capital Management LLC increased its stake in Cardinal Health by 0.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,496,531 shares of the company’s stock valued at $216,749,000 after purchasing an additional 19,287 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAH. Leerink Partnrs reissued an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. Evercore ISI raised their target price on shares of Cardinal Health from $110.00 to $115.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Robert W. Baird reduced their price target on shares of Cardinal Health from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Argus lowered their price target on shares of Cardinal Health from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Wells Fargo & Company cut their price objective on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a 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 $107.57.

Read Our Latest Stock Analysis on Cardinal Health

Cardinal Health Price Performance

NYSE:CAH traded down $0.11 during mid-day trading on Friday, reaching $98.69. The company’s stock had a trading volume of 698,466 shares, compared to its average volume of 2,185,888. The company’s fifty day simple moving average is $102.21 and its two-hundred day simple moving average is $105.09. Cardinal Health, Inc. has a twelve month low of $83.78 and a twelve month high of $116.04. The stock has a market cap of $24.04 billion, a P/E ratio of 43.91, a P/E/G ratio of 1.11 and a beta of 0.64.

Cardinal Health (NYSE:CAHGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion for the quarter, compared to the consensus estimate of $56.05 billion. During the same quarter last year, the firm posted $1.74 earnings per share. Cardinal Health’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts expect that Cardinal Health, Inc. will post 7.35 EPS for the current fiscal year.

Cardinal Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.05%. This is a boost from Cardinal Health’s previous quarterly dividend of $0.50. Cardinal Health’s payout ratio is presently 88.89%.

Cardinal Health Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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