Cardinal Health, Inc. (NYSE:CAH) Shares Bought by ING Groep NV

ING Groep NV grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 33,981.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 185,742 shares of the company's stock after purchasing an additional 185,197 shares during the quarter. ING Groep NV owned approximately 0.08% of Cardinal Health worth $18,723,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Cornerstone Wealth Management LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $209,000. Mather Group LLC. increased its holdings in shares of Cardinal Health by 2.5% in the 4th quarter. Mather Group LLC. now owns 6,678 shares of the company's stock valued at $673,000 after acquiring an additional 164 shares during the period. Nordea Investment Management AB increased its holdings in shares of Cardinal Health by 50.5% in the 4th quarter. Nordea Investment Management AB now owns 184,537 shares of the company's stock valued at $18,649,000 after acquiring an additional 61,933 shares during the period. Vest Financial LLC increased its holdings in shares of Cardinal Health by 15.9% in the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company's stock valued at $28,470,000 after acquiring an additional 38,769 shares during the period. Finally, Certuity LLC acquired a new position in shares of Cardinal Health in the 4th quarter valued at $228,000. Institutional investors and hedge funds own 87.17% of the company's stock.

Cardinal Health Price Performance

Shares of NYSE CAH traded up $0.38 during trading on Friday, hitting $99.08. 1,307,975 shares of the company were exchanged, compared to its average volume of 2,247,072. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 1.12 and a beta of 0.71. Cardinal Health, Inc. has a 1 year low of $80.90 and a 1 year high of $116.04. The firm's fifty day moving average price is $106.34 and its 200 day moving average price is $105.51.

Cardinal Health (NYSE:CAH - Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.95 by $0.13. The company had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The business's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.74 EPS. On average, research analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.5056 dividend. The ex-dividend date is Monday, July 1st. This is a positive change from Cardinal Health's previous quarterly dividend of $0.50. This represents a $2.02 annualized dividend and a dividend yield of 2.04%. Cardinal Health's payout ratio is currently 89.78%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAH. Leerink Partnrs reaffirmed an "outperform" rating on shares of Cardinal Health in a report on Monday, February 26th. Evercore ISI boosted their price objective on shares of Cardinal Health from $110.00 to $115.00 and gave the company an "in-line" rating in a research note on Friday, May 3rd. UBS Group boosted their price objective on shares of Cardinal Health from $122.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, February 5th. Argus dropped their price objective on shares of Cardinal Health from $120.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Robert W. Baird dropped their price objective on shares of Cardinal Health from $134.00 to $128.00 and set an "outperform" rating on the stock in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health has a consensus rating of "Moderate Buy" and an average target price of $107.57.

About Cardinal Health

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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