Skandinaviska Enskilda Banken AB publ Sells 13,909 Shares of Cardinal Health, Inc. $CAH

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,379 shares of the company’s stock after selling 13,909 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cardinal Health were worth $10,419,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Latitude Advisors LLC raised its position in shares of Cardinal Health by 2.1% during the third quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after buying an additional 53 shares during the last quarter. WESPAC Advisors LLC increased its stake in Cardinal Health by 1.0% during the third quarter. WESPAC Advisors LLC now owns 6,644 shares of the company’s stock valued at $1,043,000 after acquiring an additional 63 shares during the period. Kathmere Capital Management LLC increased its stake in Cardinal Health by 1.6% during the third quarter. Kathmere Capital Management LLC now owns 4,091 shares of the company’s stock valued at $642,000 after acquiring an additional 65 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in Cardinal Health by 55.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock valued at $34,000 after acquiring an additional 71 shares in the last quarter. Finally, Woodward Diversified Capital LLC lifted its position in shares of Cardinal Health by 4.0% in the 3rd quarter. Woodward Diversified Capital LLC now owns 1,854 shares of the company’s stock worth $291,000 after acquiring an additional 72 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Cardinal Health Stock Down 0.2%

NYSE:CAH opened at $225.07 on Thursday. The firm has a market cap of $52.96 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.45 and a beta of 0.64. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $230.81. The company’s 50-day moving average price is $210.37 and its two-hundred day moving average price is $183.79.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. The company 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%. Cardinal Health’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 earnings per share. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on CAH. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Zacks Research upgraded shares of Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a research note on Friday, February 6th. Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a research report on Friday, February 6th. Finally, Mizuho upped their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $244.20.

Cardinal Health Company Profile

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.