HealthInvest Partners AB Invests $4.84 Million in Cardinal Health, Inc. (NYSE:CAH)

HealthInvest Partners AB bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 48,000 shares of the company's stock, valued at approximately $4,838,000. Cardinal Health comprises approximately 3.8% of HealthInvest Partners AB's holdings, making the stock its 7th biggest holding.

Other hedge funds also recently modified their holdings of the company. Cornerstone Planning Group LLC acquired a new stake in Cardinal Health in the 3rd quarter worth about $26,000. BKM Wealth Management LLC acquired a new stake in Cardinal Health in the 4th quarter worth about $30,000. Retirement Group LLC raised its stake in Cardinal Health by 1,539.3% in the 4th quarter. Retirement Group LLC now owns 459 shares of the company's stock worth $35,000 after purchasing an additional 431 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Cardinal Health in the 4th quarter worth about $41,000. Finally, Headlands Technologies LLC acquired a new stake in Cardinal Health in the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Trading Up 0.1 %

CAH traded up $0.16 during trading on Tuesday, reaching $107.19. 1,515,802 shares of the company's stock were exchanged, compared to its average volume of 2,262,354. Cardinal Health, Inc. has a one year low of $77.56 and a one year high of $116.04. The stock has a market capitalization of $26.07 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 1.01 and a beta of 0.68. The firm has a fifty day moving average price of $109.39 and a two-hundred day moving average price of $103.85.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its quarterly 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. The firm had revenue of $57.45 billion for the quarter, compared to the consensus estimate of $57.02 billion. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The company's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS. Sell-side analysts expect that Cardinal Health, Inc. will post 7.28 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.87%. Cardinal Health's payout ratio is presently 78.74%.

Analyst Upgrades and Downgrades

CAH has been the subject of several analyst reports. Leerink Partnrs reiterated an "outperform" rating on shares of Cardinal Health in a research note on Monday, February 26th. Barclays began coverage on shares of Cardinal Health in a research report on Wednesday, January 3rd. They issued an "overweight" rating and a $117.00 target price for the company. UBS Group lifted their price target on shares of Cardinal Health from $122.00 to $125.00 and gave the company a "buy" rating in a report on Monday, February 5th. TheStreet lowered shares of Cardinal Health from a "b-" rating to a "c+" rating in a report on Wednesday, December 27th. Finally, Argus raised shares of Cardinal Health from a "hold" rating to a "buy" rating in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $103.07.

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.

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