Nippon Life Global Investors Americas Inc. Invests $1.16 Million in Cardinal Health, Inc. $CAH

Nippon Life Global Investors Americas Inc. purchased a new position in shares of Cardinal Health, Inc. (NYSE:CAH) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 4,900 shares of the company’s stock, valued at approximately $1,164,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Cardinal Health during the fourth quarter worth $790,344,000. Wellington Management Group LLP increased its stake in shares of Cardinal Health by 153.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,804,090 shares of the company’s stock valued at $911,010,000 after purchasing an additional 3,511,579 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Cardinal Health in the 2nd quarter valued at $308,640,000. Marshall Wace LLP raised its holdings in shares of Cardinal Health by 1,328.1% during the 4th quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock worth $195,484,000 after buying an additional 884,648 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Cardinal Health by 7,053.4% during the 1st quarter. Bessemer Group Inc. now owns 750,038 shares of the company’s stock worth $158,491,000 after buying an additional 739,553 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAH. Wall Street Zen raised Cardinal Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Wells Fargo & Company boosted their target price on Cardinal Health from $245.00 to $277.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Cardinal Health from $215.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup raised their price target on shares of Cardinal Health from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley lifted their price target on shares of Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a report on Wednesday. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Stock Performance

Shares of CAH opened at $234.92 on Monday. Cardinal Health, Inc. has a 52 week low of $145.87 and a 52 week high of $258.30. The stock has a market capitalization of $54.64 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.26 and a beta of 0.49. The stock has a fifty day moving average of $230.30 and a 200-day moving average of $217.19.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.49. Cardinal Health had a negative return on equity of 98.53% and a net margin of 0.67%.The business had revenue of $63.67 billion for the quarter, compared to analyst estimates of $65.15 billion. During the same quarter in the previous year, the company posted $2.08 EPS. Cardinal Health’s quarterly revenue was up 5.8% compared to the same quarter last year. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. As a group, equities analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st will be paid a dividend of $0.5158 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, October 1st. Cardinal Health’s dividend payout ratio (DPR) is presently 28.49%.

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.