2,086,309 Shares in Cardinal Health, Inc. (NYSE:CAH) Acquired by Norges Bank

Norges Bank acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,086,309 shares of the company’s stock, valued at approximately $246,748,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAH. Blair William & Co. IL grew its position in Cardinal Health by 14.5% in the fourth quarter. Blair William & Co. IL now owns 12,754 shares of the company’s stock worth $1,508,000 after acquiring an additional 1,618 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new position in Cardinal Health during the fourth quarter worth $4,387,000. Howe & Rusling Inc. bought a new position in Cardinal Health during the fourth quarter valued at about $211,000. NEOS Investment Management LLC lifted its position in shares of Cardinal Health by 28.5% in the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the company’s stock worth $1,317,000 after buying an additional 2,483 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in shares of Cardinal Health by 21.9% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 26,272 shares of the company’s stock worth $3,107,000 after acquiring an additional 4,718 shares in the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of CAH stock opened at $136.43 on Monday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $137.18. The stock has a fifty day moving average price of $128.36 and a 200 day moving average price of $120.86. The stock has a market cap of $32.96 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.49 and a beta of 0.66.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. Equities research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 37.69%.

Analysts Set New Price Targets

CAH has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, February 5th. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Citigroup raised their target price on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Wells Fargo & Company upped their price target on shares of Cardinal Health from $135.00 to $136.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th. Finally, Argus set a $148.00 price objective on Cardinal Health in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Cardinal Health has a consensus rating of “Moderate Buy” and a consensus price target of $139.36.

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.