Korea Investment CORP Reduces Position in Cardinal Health, Inc. $CAH

Korea Investment CORP decreased its holdings in Cardinal Health, Inc. (NYSE:CAH) by 25.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,017 shares of the company’s stock after selling 57,819 shares during the quarter. Korea Investment CORP owned approximately 0.07% of Cardinal Health worth $27,157,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its position in shares of Cardinal Health by 1,363.6% in the 3rd quarter. SJS Investment Consulting Inc. now owns 161 shares of the company’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Cardinal Health by 198.3% during the first quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company’s stock worth $27,000 after buying an additional 14,034 shares in the last quarter. American Capital Advisory LLC grew its position in shares of Cardinal Health by 5,200.0% during the third quarter. American Capital Advisory LLC now owns 212 shares of the company’s stock worth $33,000 after buying an additional 208 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in shares of Cardinal Health by 55.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 200 shares of the company’s stock worth $34,000 after buying an additional 71 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in Cardinal Health in the third quarter valued at $35,000. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Up 2.1%

Shares of NYSE CAH opened at $222.30 on Tuesday. The firm’s 50-day moving average price is $215.95 and its two-hundred day moving average price is $190.54. Cardinal Health, Inc. has a 52-week low of $120.72 and a 52-week high of $233.60. The stock has a market capitalization of $52.31 billion, a P/E ratio of 31.99, a P/E/G ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last posted its earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.31 by $0.32. The company had revenue of $65.63 billion during the quarter, compared to analyst estimates of $64.88 billion. Cardinal Health had a negative return on equity of 92.50% and a net margin of 0.68%.The business’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 earnings per share. As a group, equities research analysts expect that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be paid a dividend of $0.5107 per share. This represents a $2.04 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio is presently 29.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cardinal Health from $195.00 to $208.00 and gave the stock a “hold” rating in a research report on Tuesday, November 18th. Mizuho upped their price objective on Cardinal Health from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Morgan Stanley set a $255.00 target price on Cardinal Health in a report on Friday, February 6th. Citigroup upgraded Cardinal Health from a “neutral” rating to a “buy” rating and boosted their price target for the company from $190.00 to $244.00 in a report on Friday, January 9th. Finally, Wells Fargo & Company upped their price target on Cardinal Health from $237.00 to $256.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cardinal Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Company Profile

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.