Skandinaviska Enskilda Banken AB publ Has $14.54 Million Stake in Cardinal Health, Inc. (NYSE:CAH)

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in Cardinal Health by 72%, selling 271,581 shares and leaving it with 105,536 shares valued at approximately $14.54 million.
• Cardinal Health recently increased its quarterly dividend to $0.5107 per share, raising the annualized yield to 1.30%.
• Several analysts upgraded Cardinal Health's stock ratings, with Morgan Stanley raising its price target from $181 to $190 and confirming its "overweight" rating.

Skandinaviska Enskilda Banken AB publ decreased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 72.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,536 shares of the company's stock after selling 271,581 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Cardinal Health were worth $14,540,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its holdings in shares of Cardinal Health by 1.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 12,937 shares of the company's stock worth $1,539,000 after buying an additional 210 shares during the period. LPL Financial LLC boosted its holdings in shares of Cardinal Health by 6.7% during the 4th quarter. LPL Financial LLC now owns 231,276 shares of the company's stock worth $27,353,000 after buying an additional 14,623 shares during the period. TIAA Trust National Association boosted its holdings in shares of Cardinal Health by 4.5% during the 4th quarter. TIAA Trust National Association now owns 2,183 shares of the company's stock worth $258,000 after buying an additional 94 shares during the period. Korea Investment CORP boosted its holdings in shares of Cardinal Health by 3.0% during the 4th quarter. Korea Investment CORP now owns 166,127 shares of the company's stock worth $19,648,000 after buying an additional 4,900 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Cardinal Health by 5.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 433,810 shares of the company's stock worth $51,754,000 after buying an additional 23,140 shares during the period. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Stock Performance

Shares of NYSE:CAH traded down $0.01 during midday trading on Wednesday, reaching $157.38. 225,737 shares of the company's stock were exchanged, compared to its average volume of 2,372,240. The company's 50 day simple moving average is $159.53 and its two-hundred day simple moving average is $142.13. The firm has a market capitalization of $37.56 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.55 and a beta of 0.68. Cardinal Health, Inc. has a 12 month low of $96.05 and a 12 month high of $168.44.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $55.33 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company's revenue was up .0% on a year-over-year basis. On average, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.5107 per share. This is a boost from Cardinal Health's previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, July 1st. This represents a $2.04 annualized dividend and a dividend yield of 1.30%. Cardinal Health's payout ratio is currently 31.83%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Cardinal Health from $181.00 to $190.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America increased their price target on shares of Cardinal Health from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, June 10th. Evercore ISI reissued an "outperform" rating and issued a $180.00 price target (up from $175.00) on shares of Cardinal Health in a report on Thursday, June 12th. Robert W. Baird increased their price target on shares of Cardinal Health from $156.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cardinal Health has an average rating of "Moderate Buy" and a consensus price target of $158.07.

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.