International Assets Investment Management LLC Invests $37.39 Million in Cardinal Health, Inc. (NYSE:CAH)

International Assets Investment Management LLC acquired a new stake in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 370,967 shares of the company’s stock, valued at approximately $37,393,000. International Assets Investment Management LLC owned approximately 0.15% of Cardinal Health at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC bought a new stake in shares of Cardinal Health in the fourth quarter valued at about $209,000. Nordea Investment Management AB lifted its stake in 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 in the last quarter. Vest Financial LLC boosted its position in Cardinal Health by 15.9% during the 4th quarter. Vest Financial LLC now owns 282,440 shares of the company’s stock worth $28,470,000 after acquiring an additional 38,769 shares during the last quarter. Bellwether Advisors LLC bought a new position in shares of Cardinal Health during the 4th quarter worth approximately $6,290,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Cardinal Health by 30.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 547,525 shares of the company’s stock valued at $54,618,000 after purchasing an additional 126,668 shares during the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAH has been the subject of a number of analyst reports. Argus raised shares of Cardinal Health from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. UBS Group lifted their target price on Cardinal Health from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Evercore ISI upped their price target on shares of Cardinal Health from $110.00 to $115.00 and gave the stock an “in-line” rating in a research report on Friday. SVB Leerink started coverage on Cardinal Health in a report on Monday, February 26th. They set an “outperform” rating and a $125.00 price target for the company. Finally, Leerink Partnrs restated an “outperform” rating on shares of Cardinal Health in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.79.

Cardinal Health Stock Down 4.0 %

CAH opened at $98.90 on Friday. Cardinal Health, Inc. has a twelve month low of $77.56 and a twelve month high of $116.04. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 38.94, a P/E/G ratio of 1.03 and a beta of 0.71. The company has a 50-day simple moving average of $109.28 and a 200 day simple moving average of $104.97.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.13. Cardinal Health had a net margin of 0.30% and a negative return on equity of 57.44%. The business had revenue of $54.90 billion for the quarter, compared to analyst estimates of $56.05 billion. During the same quarter last year, the business posted $1.74 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.5006 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Thursday, March 28th. Cardinal Health’s dividend payout ratio (DPR) is presently 78.74%.

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.