Cardinal Health, Inc. $CAH Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 19.6% during the third quarter, HoldingsChannel.com reports. The firm owned 17,378 shares of the company’s stock after purchasing an additional 2,845 shares during the period. Vinva Investment Management Ltd’s holdings in Cardinal Health were worth $2,686,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Cardinal Health in the second quarter valued at approximately $584,420,000. Barclays PLC lifted its position in shares of Cardinal Health by 109.3% during the 3rd quarter. Barclays PLC now owns 1,584,214 shares of the company’s stock valued at $248,658,000 after buying an additional 827,446 shares in the last quarter. Prudential Financial Inc. grew its stake in Cardinal Health by 476.8% in the 2nd quarter. Prudential Financial Inc. now owns 883,348 shares of the company’s stock valued at $148,402,000 after acquiring an additional 730,209 shares during the period. Victory Capital Management Inc. grew its stake in Cardinal Health by 44.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,284,115 shares of the company’s stock valued at $352,165,000 after acquiring an additional 707,495 shares during the period. Finally, Voya Investment Management LLC increased its holdings in Cardinal Health by 298.3% in the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock worth $128,978,000 after acquiring an additional 615,398 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

Cardinal Health Stock Up 2.1%

Shares of CAH opened at $222.30 on Tuesday. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $233.60. The stock has a market cap of $52.31 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65. The firm’s fifty day moving average is $215.95 and its two-hundred day moving average is $190.54.

Cardinal Health (NYSE:CAH) last issued its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 earnings per share. As a group, research analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s payout ratio is currently 29.35%.

Analysts Set New Price Targets

CAH has been the subject of a number of research analyst reports. Citigroup upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $244.00 in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research note on Tuesday, November 18th. UBS Group set a $260.00 price target on shares of Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Barclays raised their price target on shares of Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley set a $255.00 price objective on Cardinal Health in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold 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 $245.67.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.