Resona Asset Management Co. Ltd. Purchases New Holdings in Cardinal Health, Inc. (NYSE:CAH)

Resona Asset Management Co. Ltd. acquired a new position in Cardinal Health, Inc. (NYSE:CAH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 98,949 shares of the company’s stock, valued at approximately $11,724,000.

Several other large investors have also recently made changes to their positions in CAH. Geode Capital Management LLC boosted its holdings in shares of Cardinal Health by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,859,132 shares of the company’s stock worth $691,145,000 after buying an additional 109,273 shares during the last quarter. Amundi boosted its stake in Cardinal Health by 5.5% in the fourth quarter. Amundi now owns 2,116,291 shares of the company’s stock valued at $259,309,000 after acquiring an additional 110,605 shares during the last quarter. Norges Bank bought a new position in shares of Cardinal Health during the 4th quarter valued at approximately $246,748,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cardinal Health by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,519,011 shares of the company’s stock worth $179,653,000 after purchasing an additional 44,386 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Cardinal Health by 4.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 972,060 shares of the company’s stock valued at $114,966,000 after purchasing an additional 39,767 shares during the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Cardinal Health Stock Down 5.6 %

NYSE:CAH opened at $129.37 on Monday. The stock has a market cap of $31.25 billion, a P/E ratio of 24.14, a PEG ratio of 1.49 and a beta of 0.61. The business’s 50-day moving average price is $129.15 and its two-hundred day moving average price is $121.69. Cardinal Health, Inc. has a twelve month low of $93.17 and a twelve month high of $139.50.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, January 30th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Cardinal Health had a net margin of 0.59% and a negative return on equity of 59.57%. On average, equities research analysts expect that Cardinal Health, Inc. will post 7.95 EPS for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a $0.5056 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.02 annualized dividend and a yield of 1.56%. Cardinal Health’s dividend payout ratio (DPR) is presently 37.69%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup boosted their target price on Cardinal Health from $120.00 to $129.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Jefferies Financial Group raised shares of Cardinal Health from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $150.00 in a report on Wednesday, February 5th. Argus set a $148.00 price target on shares of Cardinal Health in a research report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of Cardinal Health from $136.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, TD Cowen raised shares of Cardinal Health from a “hold” rating to a “buy” rating and boosted their target price for the company from $130.00 to $144.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Cardinal Health currently has a consensus rating of “Moderate Buy” and an average price target of $140.14.

Cardinal Health Company 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.