Harel Insurance Investments & Financial Services Ltd. Raises Stake in Cardinal Health, Inc. (NYSE:CAH)

Harel Insurance Investments & Financial Services Ltd. increased its stake in Cardinal Health, Inc. (NYSE:CAH) by 16.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,819 shares of the company’s stock after acquiring an additional 6,260 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Cardinal Health were worth $5,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Cardinal Health by 0.7% in the third quarter. Geode Capital Management LLC now owns 5,749,859 shares of the company’s stock valued at $633,298,000 after buying an additional 42,082 shares in the last quarter. CHURCHILL MANAGEMENT Corp increased its stake in Cardinal Health by 1.5% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 240,422 shares of the company’s stock valued at $28,435,000 after purchasing an additional 3,576 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cardinal Health by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,474,625 shares of the company’s stock worth $162,976,000 after purchasing an additional 33,388 shares during the last quarter. Alpha Cubed Investments LLC purchased a new stake in Cardinal Health during the third quarter worth $371,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Cardinal Health in the third quarter valued at $1,691,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. TD Cowen upgraded shares of Cardinal Health from a “hold” rating to a “buy” rating and increased their price target for the company from $130.00 to $144.00 in a research report on Wednesday, January 8th. StockNews.com downgraded Cardinal Health from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 3rd. UBS Group raised their price target on Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Mizuho initiated coverage on Cardinal Health in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $139.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.64.

Cardinal Health Stock Down 0.3 %

Shares of CAH opened at $128.89 on Friday. Cardinal Health, Inc. has a fifty-two week low of $93.17 and a fifty-two week high of $129.68. The company’s fifty day moving average is $121.36 and its two-hundred day moving average is $112.92. The firm has a market cap of $31.19 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. The firm had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. As a group, equities research analysts anticipate that Cardinal Health, Inc. will post 7.82 earnings per share for the current year.

Cardinal Health Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd were given a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, January 2nd. Cardinal Health’s payout ratio is currently 39.30%.

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.