DekaBank Deutsche Girozentrale Purchases 68,714 Shares of Cardinal Health, Inc. (NYSE:CAH)

DekaBank Deutsche Girozentrale grew its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,239 shares of the company’s stock after acquiring an additional 68,714 shares during the period. DekaBank Deutsche Girozentrale owned about 0.25% of Cardinal Health worth $68,996,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Cardinal Health in the 4th quarter worth approximately $258,499,000. California Public Employees Retirement System lifted its stake in Cardinal Health by 118.9% in the fourth quarter. California Public Employees Retirement System now owns 1,516,035 shares of the company’s stock worth $152,816,000 after acquiring an additional 823,520 shares during the period. Acadian Asset Management LLC boosted its holdings in Cardinal Health by 19.1% in the first quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock valued at $416,585,000 after acquiring an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Cardinal Health during the 1st quarter valued at $56,454,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after purchasing an additional 477,682 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CAH has been the topic of several research analyst reports. Robert W. Baird boosted their price target on shares of Cardinal Health from $129.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Wells Fargo & Company reduced their target price on Cardinal Health from $96.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, April 29th. Argus lowered their target price on Cardinal Health from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Evercore ISI reduced their price target on Cardinal Health from $115.00 to $105.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Finally, StockNews.com raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

Cardinal Health Stock Down 1.7 %

NYSE:CAH traded down $1.79 during trading hours on Friday, hitting $101.60. 2,613,341 shares of the stock traded hands, compared to its average volume of 1,790,428. The company has a market cap of $24.75 billion, a price-to-earnings ratio of 45.16, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. Cardinal Health, Inc. has a 1 year low of $85.11 and a 1 year high of $116.04. The stock has a 50 day moving average price of $98.44 and a 200 day moving average price of $103.45.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, May 2nd. The company reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.13. Cardinal Health had a net margin of 0.25% and a negative return on equity of 54.74%. The company had revenue of $54.90 billion for the quarter, compared to analysts’ expectations of $56.05 billion. During the same quarter in the previous year, the company earned $1.74 EPS. Cardinal Health’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts forecast that Cardinal Health, Inc. will post 7.35 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.5056 dividend. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, July 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.99%. Cardinal Health’s dividend payout ratio is 89.78%.

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.