Cardinal Health, Inc. $CAH Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 15.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 37,833 shares of the company’s stock after acquiring an additional 5,030 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cardinal Health were worth $5,938,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its holdings in shares of Cardinal Health by 107.2% in the 2nd quarter. Baird Financial Group Inc. now owns 99,393 shares of the company’s stock valued at $16,698,000 after buying an additional 51,416 shares during the period. Voya Investment Management LLC boosted its holdings in Cardinal Health by 298.3% during the 3rd quarter. Voya Investment Management LLC now owns 821,723 shares of the company’s stock valued at $128,978,000 after acquiring an additional 615,398 shares during the period. Nomura Holdings Inc. grew its position in Cardinal Health by 568.0% in the 2nd quarter. Nomura Holdings Inc. now owns 85,293 shares of the company’s stock valued at $14,329,000 after acquiring an additional 72,525 shares in the last quarter. Marshall Wace LLP increased its stake in Cardinal Health by 19.1% during the second quarter. Marshall Wace LLP now owns 1,930,967 shares of the company’s stock worth $324,402,000 after purchasing an additional 309,335 shares during the period. Finally, Columbus Macro LLC increased its stake in Cardinal Health by 102.8% during the third quarter. Columbus Macro LLC now owns 36,529 shares of the company’s stock worth $5,734,000 after purchasing an additional 18,516 shares during the period. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Cardinal Health Price Performance

Cardinal Health stock opened at $214.85 on Friday. The stock has a market cap of $51.05 billion, a PE ratio of 32.41, a P/E/G ratio of 1.44 and a beta of 0.65. The stock’s fifty day moving average is $206.24 and its two-hundred day moving average is $178.02. Cardinal Health, Inc. has a 1-year low of $120.72 and a 1-year high of $216.51.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.33. Cardinal Health had a negative return on equity of 84.37% and a net margin of 0.68%.The business had revenue of $64.01 billion for the quarter, compared to the consensus estimate of $59.41 billion. During the same quarter in the prior year, the business posted $1.88 EPS. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were paid a $0.5107 dividend. This represents a $2.04 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, January 2nd. Cardinal Health’s dividend payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAH. Wall Street Zen upgraded shares of Cardinal Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Jefferies Financial Group boosted their price target on shares of Cardinal Health from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Argus upped their price objective on Cardinal Health from $211.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Leerink Partners set a $240.00 target price on Cardinal Health in a report on Tuesday, January 13th. Finally, Evercore ISI boosted their target price on Cardinal Health from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Fourteen research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average target price of $224.73.

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.