Mediolanum International Funds Ltd Boosts Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Mediolanum International Funds Ltd lifted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,854 shares of the company’s stock after purchasing an additional 4,001 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Cardinal Health were worth $6,452,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Eastern Bank purchased a new position in shares of Cardinal Health during the third quarter worth approximately $25,000. Frazier Financial Advisors LLC raised its position in Cardinal Health by 69.8% in the 3rd quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock worth $28,000 after purchasing an additional 104 shares during the period. Hara Capital LLC bought a new stake in Cardinal Health in the third quarter worth $31,000. AM Squared Ltd purchased a new stake in Cardinal Health during the third quarter valued at about $33,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Cardinal Health during the third quarter valued at about $47,000. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Trading Down 3.7 %

Shares of CAH stock opened at $123.56 on Friday. The company’s fifty day moving average price is $122.03 and its 200-day moving average price is $114.06. The stock has a market cap of $29.90 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.55 and a beta of 0.63. Cardinal Health, Inc. has a 12 month low of $93.17 and a 12 month high of $132.84.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.56% and a negative return on equity of 56.56%. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.84 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Thursday, January 2nd were paid a dividend of $0.5056 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, January 2nd. Cardinal Health’s payout ratio is 39.30%.

Analyst Ratings Changes

Several brokerages recently weighed in on CAH. StockNews.com cut Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 3rd. Morgan Stanley lifted their target price on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday. 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 report on Friday, January 10th. UBS Group boosted their price objective on shares of Cardinal Health from $134.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $132.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.64.

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.