Cardinal Health, Inc. $CAH Stock Holdings Lowered by Korea Investment CORP

Korea Investment CORP lowered its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 25.0% in the 3rd quarter, Holdings Channel reports. The fund owned 173,017 shares of the company’s stock after selling 57,819 shares during the period. Korea Investment CORP’s holdings in Cardinal Health were worth $27,157,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Strategy Asset Managers LLC acquired a new stake in shares of Cardinal Health in the third quarter valued at approximately $775,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cardinal Health by 15.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,833 shares of the company’s stock worth $5,938,000 after buying an additional 5,030 shares during the period. Versor Investments LP acquired a new position in shares of Cardinal Health during the third quarter worth approximately $2,090,000. Atle Fund Management AB grew its holdings in Cardinal Health by 13.1% in the 3rd quarter. Atle Fund Management AB now owns 30,297 shares of the company’s stock worth $4,755,000 after buying an additional 3,500 shares in the last quarter. Finally, Candriam S.C.A. increased its position in 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 acquiring an additional 19,155 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on CAH. Zacks Research raised Cardinal Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 12th. Barclays raised their price target on Cardinal Health from $243.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, February 24th. Evercore upped their price objective on shares of Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. UBS Group set a $260.00 target price on shares of Cardinal Health and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Wall Street Zen cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Stock Performance

Shares of CAH stock opened at $222.30 on Tuesday. Cardinal Health, Inc. has a 1 year low of $120.72 and a 1 year high of $233.60. The business’s fifty day moving average is $215.95 and its 200-day moving average is $190.54. The stock has a market cap of $52.31 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.65.

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

Cardinal Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

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.