Cardinal Health, Inc. $CAH Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. boosted its position in Cardinal Health, Inc. (NYSE:CAH) by 253.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,710 shares of the company’s stock after purchasing an additional 9,834 shares during the period. Global X Japan Co. Ltd.’s holdings in Cardinal Health were worth $2,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAH. Vanguard Group Inc. lifted its holdings in Cardinal Health by 0.8% in the third quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock valued at $4,838,054,000 after acquiring an additional 247,667 shares during the period. Wellington Management Group LLP lifted its holdings in 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 in the last quarter. Bank of America Corp DE boosted its stake in shares of Cardinal Health by 3.2% during the 3rd quarter. Bank of America Corp DE now owns 3,592,775 shares of the company’s stock worth $563,922,000 after purchasing an additional 111,582 shares during the last quarter. Invesco Ltd. raised its holdings in Cardinal Health by 14.7% in the 3rd quarter. Invesco Ltd. now owns 3,483,207 shares of the company’s stock valued at $546,724,000 after acquiring an additional 445,425 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Cardinal Health during the 2nd quarter worth $584,420,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Price Performance

CAH stock opened at $207.57 on Friday. The firm has a market cap of $48.84 billion, a PE ratio of 29.87, a P/E/G ratio of 1.36 and a beta of 0.65. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60. The firm has a 50 day simple moving average of $217.52 and a 200 day simple moving average of $195.73.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The company had revenue of $65.63 billion for the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.Cardinal Health’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 earnings per share. As a group, sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The business 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 dividend of $0.5107 per share. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley set a $255.00 price target on Cardinal Health in a research note on Friday, February 6th. UBS Group set a $260.00 price target on Cardinal Health and gave the stock a “buy” rating in a research report on Friday, February 6th. Leerink Partners reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Cardinal Health in a report on Monday, March 9th. Evercore boosted their target price on shares of Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Cardinal Health in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health 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.