Sumitomo Mitsui DS Asset Management Company Ltd Acquires 672 Shares of Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,794 shares of the company’s stock after acquiring an additional 672 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cardinal Health were worth $2,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC bought a new position in Cardinal Health in the 3rd quarter valued at approximately $26,000. BKM Wealth Management LLC bought a new position in shares of Cardinal Health during the 4th quarter valued at $30,000. Wetzel Investment Advisors Inc. bought a new position in shares of Cardinal Health during the 4th quarter valued at $36,000. Headlands Technologies LLC bought a new position in shares of Cardinal Health during the 3rd quarter valued at $47,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Cardinal Health during the 4th quarter valued at $59,000. 87.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

CAH has been the topic of several research analyst reports. Argus raised Cardinal Health from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Barclays initiated coverage on Cardinal Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $117.00 target price on the stock. UBS Group raised their target price on Cardinal Health from $122.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, February 5th. TheStreet cut Cardinal Health from a “b-” rating to a “c+” rating in a report on Wednesday, December 27th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Cardinal Health in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Cardinal Health Stock Performance

Shares of CAH stock opened at $103.37 on Wednesday. The firm has a market capitalization of $25.14 billion, a PE ratio of 40.70, a PEG ratio of 1.04 and a beta of 0.68. The stock has a fifty day simple moving average of $109.56 and a two-hundred day simple moving average of $104.60. Cardinal Health, Inc. has a 52-week low of $77.56 and a 52-week high of $116.04.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.26. The firm had revenue of $57.45 billion during the quarter, compared to analyst estimates of $57.02 billion. Cardinal Health had a negative return on equity of 57.44% and a net margin of 0.30%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.32 earnings per share. On average, sell-side analysts forecast that Cardinal Health, Inc. will post 7.28 EPS for the current fiscal year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given a dividend of $0.5006 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Cardinal Health’s payout ratio is 78.74%.

Cardinal Health Company 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.