APG Asset Management US Inc. Takes $591,000 Position in Cardinal Health, Inc. (NYSE:CAH)

APG Asset Management US Inc. purchased a new stake in shares of Cardinal Health, Inc. (NYSE:CAH) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,000 shares of the company’s stock, valued at approximately $591,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CAH. Y Intercept Hong Kong Ltd lifted its position in shares of Cardinal Health by 15.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 15,203 shares of the company’s stock valued at $1,680,000 after acquiring an additional 2,015 shares during the period. Barclays PLC lifted its position in shares of Cardinal Health by 8.2% during the 3rd quarter. Barclays PLC now owns 707,404 shares of the company’s stock valued at $78,183,000 after acquiring an additional 53,851 shares during the period. M&T Bank Corp lifted its position in shares of Cardinal Health by 43.2% during the 3rd quarter. M&T Bank Corp now owns 28,326 shares of the company’s stock valued at $3,131,000 after acquiring an additional 8,544 shares during the period. Geode Capital Management LLC lifted its position in shares of Cardinal Health by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after acquiring an additional 42,082 shares during the period. Finally, Coldstream Capital Management Inc. lifted its position in shares of Cardinal Health by 763.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 25,763 shares of the company’s stock valued at $2,883,000 after acquiring an additional 22,780 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CAH shares. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 price objective for the company in a research note on Tuesday, January 7th. Wells Fargo & Company raised their price objective on shares of Cardinal Health from $135.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. raised their price objective on shares of Cardinal Health from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Bank of America raised shares of Cardinal Health from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Finally, Citigroup raised their price objective on shares of Cardinal Health from $120.00 to $129.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $140.14.

Cardinal Health Stock Performance

Shares of CAH stock opened at $130.75 on Thursday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $139.50. The company has a 50 day moving average price of $129.13 and a 200 day moving average price of $122.10. The firm has a market capitalization of $31.59 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, April 1st. Cardinal Health’s payout ratio is currently 37.69%.

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.