KBC Group NV Acquires 253,526 Shares of Cardinal Health, Inc. (NYSE:CAH)

KBC Group NV boosted its stake in Cardinal Health, Inc. (NYSE:CAH - Free Report) by 31.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,063,953 shares of the company's stock after acquiring an additional 253,526 shares during the period. KBC Group NV owned 0.44% of Cardinal Health worth $146,581,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Cardinal Health in the fourth quarter worth $246,748,000. Marshall Wace LLP grew its stake in shares of Cardinal Health by 154.6% during the 4th quarter. Marshall Wace LLP now owns 3,151,736 shares of the company's stock worth $372,756,000 after acquiring an additional 1,913,892 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Cardinal Health in the 4th quarter worth about $141,963,000. GAMMA Investing LLC raised its stake in Cardinal Health by 17,589.1% in the 1st quarter. GAMMA Investing LLC now owns 964,941 shares of the company's stock valued at $132,940,000 after acquiring an additional 959,486 shares during the period. Finally, Junto Capital Management LP purchased a new stake in Cardinal Health during the fourth quarter valued at about $92,811,000. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

NYSE CAH traded up $0.74 during trading on Monday, reaching $167.92. The company's stock had a trading volume of 3,396,962 shares, compared to its average volume of 2,236,386. The firm has a fifty day moving average of $152.57 and a 200 day moving average of $135.77. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $168.60. The stock has a market capitalization of $40.08 billion, a PE ratio of 26.20, a P/E/G ratio of 1.87 and a beta of 0.66.

Cardinal Health (NYSE:CAH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.20. Cardinal Health had a net margin of 0.70% and a negative return on equity of 68.84%. The company had revenue of $54.88 billion for the quarter, compared to analysts' expectations of $55.33 billion. During the same period in the prior year, the business earned $2.08 earnings per share. Cardinal Health's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a dividend of $0.5107 per share. This is an increase from Cardinal Health's previous quarterly dividend of $0.51. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, July 1st. Cardinal Health's payout ratio is currently 31.51%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Cardinal Health from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 5th. Wells Fargo & Company raised shares of Cardinal Health from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $136.00 to $179.00 in a report on Tuesday, June 3rd. Robert W. Baird raised their price target on Cardinal Health from $156.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Citigroup reiterated a "neutral" rating and issued a $170.00 price target (up from $157.00) on shares of Cardinal Health in a research report on Friday, June 13th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.43.

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.