Meiji Yasuda Asset Management Co Ltd. Sells 564 Shares of Cardinal Health, Inc. (NYSE:CAH)

Meiji Yasuda Asset Management Co Ltd. cut its holdings in Cardinal Health, Inc. (NYSE:CAH) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,807 shares of the company’s stock after selling 564 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cardinal Health were worth $7,783,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TIAA Trust National Association increased its holdings in Cardinal Health by 4.5% in the fourth quarter. TIAA Trust National Association now owns 2,183 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in shares of Cardinal Health in the 4th quarter valued at $62,000. Stevens Capital Management LP acquired a new position in shares of Cardinal Health during the 4th quarter valued at $265,000. LPL Financial LLC boosted its stake in Cardinal Health by 6.7% during the fourth quarter. LPL Financial LLC now owns 231,276 shares of the company’s stock worth $27,353,000 after acquiring an additional 14,623 shares in the last quarter. Finally, Simplify Asset Management Inc. acquired a new stake in Cardinal Health in the fourth quarter worth $718,000. 87.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAH has been the topic of a number of research analyst reports. Mizuho assumed coverage on shares of Cardinal Health in a research report on Wednesday, December 4th. They set an “outperform” rating and a $139.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Cardinal Health from $142.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Argus set a $148.00 target price on Cardinal Health in a research report on Tuesday, February 4th. Citigroup raised their price objective on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Finally, Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their target price for the stock from $132.00 to $145.00 in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and an average target price of $139.36.

Cardinal Health Price Performance

Cardinal Health stock opened at $133.25 on Tuesday. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $133.67. The firm has a market capitalization of $32.19 billion, a P/E ratio of 24.86, a PEG ratio of 1.49 and a beta of 0.66. The business has a fifty day moving average price of $127.60 and a 200-day moving average price of $120.24.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. Sell-side analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.5056 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.52%. Cardinal Health’s payout ratio is 37.69%.

Cardinal Health Profile

Cardinal Health, Inc operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally. It provides customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, physician offices, and patients in the home.