Meiji Yasuda Asset Management Co Ltd. Buys 3,073 Shares of Cardinal Health, Inc. $CAH

Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,723 shares of the company’s stock after buying an additional 3,073 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cardinal Health were worth $5,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAH. Strategy Asset Managers LLC bought a new position in Cardinal Health in the third quarter valued at about $775,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Cardinal Health by 15.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after purchasing an additional 5,030 shares during the last quarter. Versor Investments LP bought a new stake in Cardinal Health during the 3rd quarter worth about $2,090,000. Atle Fund Management AB lifted its position in Cardinal Health by 13.1% during the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock valued at $4,755,000 after purchasing an additional 3,500 shares during the period. Finally, Candriam S.C.A. boosted its stake in shares of Cardinal Health by 10.8% in the 3rd quarter. Candriam S.C.A. now owns 196,163 shares of the company’s stock valued at $30,790,000 after purchasing an additional 19,155 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors.

Cardinal Health Trading Up 0.9%

Cardinal Health stock opened at $217.89 on Friday. The firm has a market capitalization of $51.27 billion, a P/E ratio of 31.35, a PEG ratio of 1.40 and a beta of 0.65. The business has a 50-day moving average of $215.65 and a 200-day moving average of $189.79. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The business had revenue of $65.63 billion for the quarter, compared to the consensus estimate of $64.88 billion. During the same period last year, the company posted $1.93 EPS. Cardinal Health’s revenue for the quarter was up 18.8% on a year-over-year basis. Research analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Robert W. Baird set a $252.00 price objective on shares of Cardinal Health in a research note on Friday, February 6th. Mizuho lifted their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Morgan Stanley set a $255.00 target price on shares of Cardinal Health in a report on Friday, February 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $245.67.

About Cardinal Health

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.