Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Cardinal Health, Inc. (NYSE:CAH)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Cardinal Health, Inc. (NYSE:CAH) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,998 shares of the company’s stock after acquiring an additional 636 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cardinal Health were worth $3,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp lifted its position in Cardinal Health by 4.6% during the third quarter. State Street Corp now owns 14,177,641 shares of the company’s stock valued at $1,566,913,000 after purchasing an additional 627,253 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Cardinal Health by 47.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,069,462 shares of the company’s stock valued at $118,197,000 after buying an additional 346,362 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Cardinal Health by 230.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 477,911 shares of the company’s stock valued at $52,819,000 after acquiring an additional 333,095 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Cardinal Health in the 3rd quarter worth approximately $30,820,000. Finally, Worldquant Millennium Advisors LLC raised its stake in Cardinal Health by 77.3% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 593,007 shares of the company’s stock worth $65,539,000 after acquiring an additional 258,541 shares during the period. Institutional investors own 87.17% of the company’s stock.

Cardinal Health Stock Up 0.4 %

CAH stock opened at $127.62 on Monday. The company has a fifty day simple moving average of $122.46 and a two-hundred day simple moving average of $115.41. Cardinal Health, Inc. has a 52 week low of $93.17 and a 52 week high of $132.84. The firm has a market capitalization of $30.83 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.63.

Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. Cardinal Health had a negative return on equity of 59.57% and a net margin of 0.59%. As a group, analysts anticipate that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.5056 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.58%. Cardinal Health’s payout ratio is presently 37.69%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CAH shares. Bank of America upgraded shares of Cardinal Health from a “neutral” rating to a “buy” rating and upped their price target for the stock from $132.00 to $145.00 in a research report on Monday, January 6th. Evercore ISI raised shares of Cardinal Health from an “in-line” rating to an “outperform” rating and set a $140.00 target price for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised Cardinal Health from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. TD Cowen raised Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $144.00 in a research note on Wednesday, January 8th. Finally, Mizuho started coverage on Cardinal Health in a research note on Wednesday, December 4th. They set an “outperform” rating and a $139.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.87.

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.