Global X Japan Co. Ltd. Increases Position in Cardinal Health, Inc. $CAH

Global X Japan Co. Ltd. lifted its holdings in Cardinal Health, Inc. (NYSE:CAH) by 253.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,710 shares of the company’s stock after buying an additional 9,834 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Cardinal Health were worth $2,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Latitude Advisors LLC raised its stake in shares of Cardinal Health by 2.1% during the third quarter. Latitude Advisors LLC now owns 2,598 shares of the company’s stock valued at $408,000 after acquiring an additional 53 shares in the last quarter. MFA Wealth Services increased its position in shares of Cardinal Health by 2.3% during the third quarter. MFA Wealth Services now owns 2,491 shares of the company’s stock worth $391,000 after purchasing an additional 55 shares in the last quarter. Moody National Bank Trust Division increased its position in Cardinal Health by 2.2% during the 4th quarter. Moody National Bank Trust Division now owns 2,696 shares of the company’s stock valued at $554,000 after buying an additional 57 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its holdings in shares of Cardinal Health by 2.8% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,145 shares of the company’s stock valued at $441,000 after buying an additional 58 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in Cardinal Health by 3.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,725 shares of the company’s stock worth $354,000 after buying an additional 59 shares during the last quarter. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAH has been the topic of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cardinal Health in a research report on Wednesday, January 21st. UBS Group set a $260.00 price objective on shares of Cardinal Health and gave the company a “buy” rating in a report on Friday, February 6th. Argus upped their target price on shares of Cardinal Health from $232.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Evercore increased their price target on Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Finally, Wall Street Zen lowered Cardinal Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 21st. One investment 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 stock. Based on data from MarketBeat.com, Cardinal Health presently has an average rating of “Moderate Buy” and a consensus target price of $245.67.

Cardinal Health Stock Down 1.8%

NYSE:CAH opened at $207.57 on Friday. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $233.60. The company has a fifty day simple moving average of $217.52 and a two-hundred day simple moving average of $195.73. The company has a market cap of $48.84 billion, a price-to-earnings ratio of 29.87, a price-to-earnings-growth ratio of 1.36 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.31 by $0.32. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. The company had revenue of $65.63 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter in the previous year, the business posted $1.93 EPS. The firm’s revenue was up 18.8% on a year-over-year basis. On average, analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current year.

Cardinal Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a $0.5107 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, April 1st. Cardinal Health’s dividend payout ratio (DPR) is 29.35%.

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.