Meiji Yasuda Asset Management Co Ltd. Boosts Position in Cardinal Health, Inc. (CAH)
Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 18.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,513 shares of the company’s stock after buying an additional 1,510 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cardinal Health were worth $637,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CAH. Bronfman E.L. Rothschild L.P. grew its stake in Cardinal Health by 31.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,583 shares of the company’s stock valued at $123,000 after purchasing an additional 382 shares in the last quarter. Advisory Services Network LLC grew its stake in Cardinal Health by 18.4% in the second quarter. Advisory Services Network LLC now owns 1,739 shares of the company’s stock valued at $136,000 after purchasing an additional 270 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after purchasing an additional 244 shares in the last quarter. Dupont Capital Management Corp bought a new position in Cardinal Health in the second quarter valued at approximately $164,000. Finally, First Personal Financial Services grew its stake in Cardinal Health by 127.5% in the second quarter. First Personal Financial Services now owns 2,209 shares of the company’s stock valued at $172,000 after purchasing an additional 1,238 shares in the last quarter. Institutional investors and hedge funds own 88.50% of the company’s stock.
CAH has been the subject of a number of analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $77.00 price target on shares of Cardinal Health in a research note on Thursday, July 27th. Credit Suisse Group decreased their price target on Cardinal Health from $87.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Cowen and Company restated a “market perform” rating and issued a $77.00 price target (down from $82.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. UBS Group AG restated a “neutral” rating and issued a $76.00 price target (down from $79.00) on shares of Cardinal Health in a research note on Thursday, August 3rd. Finally, BidaskClub downgraded Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $74.81.
Cardinal Health, Inc. (CAH) traded up $1.25 on Thursday, hitting $56.97. The stock had a trading volume of 4,503,200 shares, compared to its average volume of 2,402,272. Cardinal Health, Inc. has a 52 week low of $54.66 and a 52 week high of $84.88. The firm has a market capitalization of $17,529.71, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.61 and a beta of 0.88. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 1.06.
Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.09. Cardinal Health had a return on equity of 25.24% and a net margin of 0.84%. The company had revenue of $32.64 billion during the quarter, compared to analysts’ expectations of $33.48 billion. During the same period last year, the firm posted $1.24 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. analysts forecast that Cardinal Health, Inc. will post 4.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Tuesday, January 2nd will be given a $0.4624 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.25%. Cardinal Health’s payout ratio is 53.78%.
Cardinal Health Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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