Cardinal Health, Inc. (NYSE:CAH) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 41.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,603 shares of the company’s stock after purchasing an additional 15,195 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Cardinal Health were worth $5,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CAH. Point72 Asset Management L.P. acquired a new stake in shares of Cardinal Health in the 2nd quarter valued at about $90,440,000. Swedbank AB acquired a new stake in shares of Cardinal Health in the first quarter valued at approximately $48,673,000. Pacer Advisors Inc. grew its position in shares of Cardinal Health by 9.9% during the second quarter. Pacer Advisors Inc. now owns 4,099,082 shares of the company’s stock worth $403,022,000 after acquiring an additional 370,181 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Cardinal Health in the 3rd quarter valued at $30,820,000. Finally, American Century Companies Inc. raised its position in Cardinal Health by 17.7% in the 2nd quarter. American Century Companies Inc. now owns 1,610,968 shares of the company’s stock valued at $158,390,000 after purchasing an additional 242,608 shares during the last quarter. Hedge funds and other institutional investors own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Cardinal Health from $134.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Robert W. Baird lifted their target price on Cardinal Health from $130.00 to $137.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Argus boosted their target price on Cardinal Health from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI increased their price target on Cardinal Health from $105.00 to $115.00 and gave the stock an “in-line” rating in a report on Thursday, August 15th. Finally, StockNews.com cut shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.00.

Cardinal Health Stock Performance

Shares of CAH stock opened at $122.45 on Wednesday. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.52 and a beta of 0.60. Cardinal Health, Inc. has a one year low of $93.17 and a one year high of $126.14. The company has a 50 day moving average price of $114.07 and a 200 day moving average price of $106.13.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Friday, November 1st. The company reported $1.88 EPS for the quarter, topping 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 business had revenue of $52.28 billion during the quarter, compared to the consensus estimate of $50.90 billion. During the same period in the prior year, the firm posted $1.73 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts forecast that Cardinal Health, Inc. will post 7.83 EPS for the current fiscal year.

Cardinal Health Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Thursday, January 2nd will be paid a $0.5056 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, January 2nd. Cardinal Health’s dividend payout ratio is currently 39.30%.

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.