Nippon Life Global Investors Americas Inc. Acquires 8,610 Shares of Cardinal Health, Inc. (NYSE:CAH)
Nippon Life Global Investors Americas Inc. raised its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 12.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 75,240 shares of the company’s stock after buying an additional 8,610 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Cardinal Health were worth $5,863,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new position in shares of Cardinal Health during the first quarter valued at about $120,000. JFS Wealth Advisors LLC boosted its position in shares of Cardinal Health by 14.3% in the second quarter. JFS Wealth Advisors LLC now owns 1,949 shares of the company’s stock valued at $152,000 after buying an additional 244 shares in the last quarter. Alpha Windward LLC boosted its position in shares of Cardinal Health by 0.7% in the second quarter. Alpha Windward LLC now owns 2,299 shares of the company’s stock valued at $179,000 after buying an additional 17 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Cardinal Health by 11.5% in the first quarter. MCF Advisors LLC now owns 2,478 shares of the company’s stock valued at $202,000 after buying an additional 256 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in shares of Cardinal Health by 18.5% in the first quarter. First Mercantile Trust Co. now owns 2,539 shares of the company’s stock valued at $207,000 after buying an additional 397 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cardinal Health, Inc. (NYSE CAH) opened at 66.98 on Friday. Cardinal Health, Inc. has a 12 month low of $62.70 and a 12 month high of $84.88. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 16.62 and a beta of 0.80. The firm’s 50 day moving average is $75.67 and its 200 day moving average is $76.86.
Cardinal Health (NYSE:CAH) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $32.97 billion for the quarter, compared to analyst estimates of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. On average, equities analysts predict that Cardinal Health, Inc. will post $4.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Monday, October 2nd will be issued a dividend of $0.4624 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, September 29th. Cardinal Health’s dividend payout ratio (DPR) is 45.79%.
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CAH has been the topic of several recent research reports. Credit Suisse Group reissued a “buy” rating and issued a $81.00 price objective on shares of Cardinal Health in a research note on Tuesday, May 2nd. Vetr raised shares of Cardinal Health from a “hold” rating to a “buy” rating and set a $77.92 price objective on the stock in a research note on Tuesday, June 13th. BidaskClub cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. ValuEngine cut shares of Cardinal Health from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC initiated coverage on shares of Cardinal Health in a research note on Wednesday, May 17th. They issued a “hold” rating and a $77.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $80.46.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.
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