KLP Kapitalforvaltning AS Takes Position in Cardinal Health, Inc. (NYSE:CAH)

KLP Kapitalforvaltning AS purchased a new stake in Cardinal Health, Inc. (NYSE:CAH) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 180,398 shares of the company’s stock, valued at approximately $21,336,000. KLP Kapitalforvaltning AS owned 0.07% of Cardinal Health as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CAH. Rothschild Investment LLC boosted its holdings in Cardinal Health by 10.1% during the fourth quarter. Rothschild Investment LLC now owns 858 shares of the company’s stock worth $101,000 after purchasing an additional 79 shares during the last quarter. Private Trust Co. NA boosted its holdings in Cardinal Health by 11.0% during the fourth quarter. Private Trust Co. NA now owns 930 shares of the company’s stock worth $110,000 after purchasing an additional 92 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in Cardinal Health by 2.7% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,479 shares of the company’s stock worth $411,000 after purchasing an additional 93 shares during the last quarter. MWA Asset Management boosted its holdings in Cardinal Health by 2.9% during the fourth quarter. MWA Asset Management now owns 3,324 shares of the company’s stock worth $393,000 after purchasing an additional 95 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Cardinal Health by 3.6% during the fourth quarter. Transcend Capital Advisors LLC now owns 2,735 shares of the company’s stock worth $323,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their target price for the stock from $130.00 to $144.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on shares of Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Mizuho started coverage on shares of Cardinal Health in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price target for the company. 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 research note on Friday, January 10th. Finally, Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and increased their price objective for the company from $132.00 to $145.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Stock Performance

NYSE:CAH opened at $131.80 on Friday. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $133.67. The firm has a market cap of $31.84 billion, a price-to-earnings ratio of 24.59, a P/E/G ratio of 1.49 and a beta of 0.66. The firm’s 50-day simple moving average is $127.35 and its 200 day simple moving average is $120.04.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results 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%. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a yield of 1.53%. Cardinal Health’s payout ratio is 37.69%.

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.