DNB Asset Management AS Purchases 2,280 Shares of Cardinal Health Inc (NYSE:CAH)

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DNB Asset Management AS lifted its position in Cardinal Health Inc (NYSE:CAH) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,765 shares of the company’s stock after acquiring an additional 2,280 shares during the period. DNB Asset Management AS’s holdings in Cardinal Health were worth $2,868,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in shares of Cardinal Health in the 3rd quarter worth approximately $28,000. Advantage Investment Management LLC purchased a new stake in shares of Cardinal Health in the 3rd quarter worth approximately $31,000. Financial Gravity Wealth Inc. grew its stake in shares of Cardinal Health by 258.5% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 692 shares of the company’s stock worth $33,000 after buying an additional 499 shares during the last quarter. NuWave Investment Management LLC grew its stake in shares of Cardinal Health by 358.1% in the 3rd quarter. NuWave Investment Management LLC now owns 765 shares of the company’s stock worth $35,000 after buying an additional 598 shares during the last quarter. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Cardinal Health in the 2nd quarter worth approximately $36,000. 90.21% of the stock is owned by hedge funds and other institutional investors.

Shares of CAH opened at $51.54 on Friday. The business’s fifty day simple moving average is $46.66 and its two-hundred day simple moving average is $45.98. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. Cardinal Health Inc has a 12 month low of $41.03 and a 12 month high of $58.31. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 1.72 and a beta of 1.32.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, August 8th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.93 by $0.18. Cardinal Health had a return on equity of 25.96% and a net margin of 0.94%. The business had revenue of $37.35 billion for the quarter, compared to the consensus estimate of $36.70 billion. During the same period last year, the business posted $1.01 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. As a group, research analysts forecast that Cardinal Health Inc will post 4.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.4811 per share. The ex-dividend date was Monday, September 30th. This represents a $1.92 annualized dividend and a yield of 3.73%. Cardinal Health’s dividend payout ratio is 36.36%.

CAH has been the topic of several recent research reports. Guggenheim set a $55.00 price target on Cardinal Health and gave the stock a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley cut their price target on Cardinal Health from $50.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, September 6th. ValuEngine upgraded Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Deutsche Bank initiated coverage on Cardinal Health in a research note on Thursday, September 12th. They issued a “hold” rating and a $50.00 price target on the stock. Finally, Argus downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Cardinal Health has an average rating of “Hold” and a consensus price target of $53.63.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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

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