Dai ichi Life Insurance Company Ltd Reduces Stock Position in Cardinal Health, Inc. (NYSE:CAH)

Dai ichi Life Insurance Company Ltd decreased its position in Cardinal Health, Inc. (NYSE:CAH) by 0.9% during the third quarter, Holdings Channel.com reports. The fund owned 48,778 shares of the company’s stock after selling 443 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Cardinal Health were worth $5,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAH. Eastern Bank purchased a new position in Cardinal Health during the 3rd quarter valued at about $25,000. Frazier Financial Advisors LLC raised its holdings in shares of Cardinal Health by 69.8% during the third quarter. Frazier Financial Advisors LLC now owns 253 shares of the company’s stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Cardinal Health in the second quarter valued at $27,000. Hara Capital LLC purchased a new position in Cardinal Health during the 3rd quarter valued at $31,000. Finally, LRI Investments LLC bought a new position in Cardinal Health in the 1st quarter worth $32,000. 87.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Cardinal Health from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their target price on Cardinal Health from $95.00 to $101.00 and gave the stock an “underweight” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on Cardinal Health from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Cardinal Health from $119.00 to $124.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Mizuho upped their target price on shares of Cardinal Health from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Cardinal Health currently has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Up 0.6 %

Shares of NYSE CAH opened at $122.45 on Wednesday. The company has a 50 day moving average of $114.07 and a 200 day moving average of $106.13. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $126.14. The firm has a market cap of $29.63 billion, a P/E ratio of 23.82, a PEG ratio of 1.52 and a beta of 0.60.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings results on Friday, November 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.26. Cardinal Health had a negative return on equity of 56.56% and a net margin of 0.56%. The firm had revenue of $52.28 billion for the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the company posted $1.73 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Cardinal Health, Inc. will post 7.83 earnings per share for the current fiscal year.

Cardinal Health Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Thursday, January 2nd will be given a dividend of $0.5056 per share. The ex-dividend date is Thursday, January 2nd. This represents a $2.02 dividend on an annualized basis and a yield of 1.65%. Cardinal Health’s dividend payout ratio (DPR) is 39.30%.

About Cardinal Health

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.