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

Nippon Life Global Investors Americas Inc. bought a new position in shares of Cardinal Health, Inc. (NYSE:CAH) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,900 shares of the company’s stock, valued at approximately $1,164,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Cardinal Health during the fourth quarter worth approximately $790,344,000. Wellington Management Group LLP grew its position in shares of Cardinal Health by 153.2% in the third 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 during the second quarter worth approximately $308,640,000. Marshall Wace LLP increased its stake in shares of Cardinal Health by 1,328.1% during the fourth quarter. Marshall Wace LLP now owns 951,259 shares of the company’s stock worth $195,484,000 after purchasing an additional 884,648 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in 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 purchasing an additional 739,553 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Trading Down 0.1%

Shares of CAH stock opened at $234.92 on Monday. The stock has a market cap of $54.64 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 1.26 and a beta of 0.49. The stock has a 50 day simple moving average of $230.30 and a 200 day simple moving average of $217.19. Cardinal Health, Inc. has a 1 year low of $145.87 and a 1 year high of $258.30.

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

Cardinal Health Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CAH. Morgan Stanley boosted their price target on Cardinal Health from $255.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday. Zacks Research downgraded Cardinal Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 12th. Robert W. Baird boosted their target price on shares of Cardinal Health from $251.00 to $274.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Leerink Partners set a $292.00 price target on shares of Cardinal Health in a research note on Tuesday, August 11th. Finally, William Blair started coverage on shares of Cardinal Health in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fifteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $265.93.

Cardinal Health Company Profile

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.