Cardinal Health, Inc. (NYSE:CAH) Shares Acquired by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. increased its position in shares of Cardinal Health, Inc. (NYSE:CAH) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,362 shares of the company’s stock after acquiring an additional 258 shares during the period. Global X Japan Co. Ltd.’s holdings in Cardinal Health were worth $482,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAH. Point72 Asset Management L.P. acquired a new stake in Cardinal Health during the second quarter valued at approximately $90,440,000. Acadian Asset Management LLC boosted its stake in shares of Cardinal Health by 19.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,723,159 shares of the company’s stock worth $416,585,000 after acquiring an additional 598,002 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Cardinal Health in the 1st quarter worth $56,454,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Cardinal Health by 265.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 657,526 shares of the company’s stock worth $73,577,000 after acquiring an additional 477,682 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Cardinal Health during the first quarter valued at $48,673,000. 87.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAH. Argus lifted their price target on Cardinal Health from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Morgan Stanley lifted their target price on shares of Cardinal Health from $114.00 to $119.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird increased their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.18.

Insider Activity

In other Cardinal Health news, insider Jessica L. Mayer sold 16,573 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the transaction, the insider now directly owns 75,971 shares in the company, valued at $8,310,467.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cardinal Health news, CEO Jason M. Hollar sold 46,455 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $109.02, for a total transaction of $5,064,524.10. Following the completion of the sale, the chief executive officer now owns 197,636 shares of the company’s stock, valued at $21,546,276.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica L. Mayer sold 16,573 shares of Cardinal Health stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $109.39, for a total transaction of $1,812,920.47. Following the completion of the transaction, the insider now directly owns 75,971 shares in the company, valued at approximately $8,310,467.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,963 shares of company stock worth $12,379,980. 0.15% of the stock is owned by corporate insiders.

Cardinal Health Trading Down 0.1 %

CAH opened at $112.23 on Wednesday. The stock has a fifty day moving average price of $111.42 and a 200 day moving average price of $103.94. Cardinal Health, Inc. has a 1 year low of $90.19 and a 1 year high of $116.05. The stock has a market cap of $27.34 billion, a price-to-earnings ratio of 49.88, a PEG ratio of 1.57 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.10. Cardinal Health had a negative return on equity of 54.85% and a net margin of 0.37%. The business had revenue of $59.87 billion during the quarter, compared to analyst estimates of $58.74 billion. During the same period in the previous year, the company earned $1.55 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Cardinal Health, Inc. will post 7.61 earnings per share for the current fiscal year.

Cardinal Health Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.506 per share. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $2.02 annualized dividend and a dividend yield of 1.80%. Cardinal Health’s dividend payout ratio is 89.78%.

Cardinal Health 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.