Nordea Investment Management AB Has $2.66 Million Holdings in Cardinal Health, Inc. (NYSE:CAH)

Nordea Investment Management AB increased its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,372 shares of the company’s stock after purchasing an additional 1,259 shares during the quarter. Nordea Investment Management AB’s holdings in Cardinal Health were worth $2,659,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Eastern Bank bought a new position in Cardinal Health during the third quarter worth about $25,000. Frazier Financial Advisors LLC boosted its stake in shares of Cardinal Health by 69.8% during the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after acquiring an additional 104 shares during the period. Hara Capital LLC acquired a new position in shares of Cardinal Health during the 3rd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Cardinal Health in the 2nd quarter valued at $29,000. Finally, AM Squared Ltd acquired a new stake in Cardinal Health during the 3rd quarter valued at $33,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Price Performance

Shares of NYSE:CAH opened at $121.70 on Friday. Cardinal Health, Inc. has a 1 year low of $93.17 and a 1 year high of $126.23. The company has a market capitalization of $29.45 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.47 and a beta of 0.63. The business has a fifty day moving average price of $119.88 and a two-hundred day moving average price of $111.01.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.26. The company had revenue of $52.28 billion during the quarter, compared to analyst estimates of $50.90 billion. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be paid a $0.5056 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 annualized dividend and a yield of 1.66%. Cardinal Health’s payout ratio is 39.30%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CAH. Citigroup increased their price target on shares of Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a report on Friday. Bank of America raised Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the company from $132.00 to $145.00 in a research report on Monday, January 6th. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Mizuho initiated coverage on Cardinal Health in a report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on Cardinal Health from $127.00 to $136.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

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.