Meiji Yasuda Asset Management Co Ltd. Acquires 3,073 Shares of Cardinal Health, Inc. $CAH

Meiji Yasuda Asset Management Co Ltd. grew its holdings in Cardinal Health, Inc. (NYSE:CAH) by 8.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,723 shares of the company’s stock after acquiring an additional 3,073 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cardinal Health were worth $5,921,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CAH. CreativeOne Wealth LLC increased its stake in Cardinal Health by 21.5% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,277 shares of the company’s stock worth $1,299,000 after purchasing an additional 1,466 shares in the last quarter. Rhenman & Partners Asset Management AB lifted its stake in Cardinal Health by 70.9% in the third quarter. Rhenman & Partners Asset Management AB now owns 94,000 shares of the company’s stock valued at $14,754,000 after buying an additional 39,000 shares in the last quarter. Ameriflex Group Inc. lifted its stake in Cardinal Health by 122.6% in the third quarter. Ameriflex Group Inc. now owns 1,082 shares of the company’s stock valued at $170,000 after buying an additional 596 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Cardinal Health by 0.9% in the third quarter. Blair William & Co. IL now owns 21,167 shares of the company’s stock valued at $3,322,000 after buying an additional 199 shares during the period. Finally, Legacy Capital Group California Inc. boosted its holdings in shares of Cardinal Health by 223.5% in the third quarter. Legacy Capital Group California Inc. now owns 12,353 shares of the company’s stock valued at $1,939,000 after buying an additional 8,535 shares during the period. Institutional investors and hedge funds own 87.17% of the company’s stock.

Wall Street Analysts Forecast Growth

CAH has been the topic of a number of research analyst reports. Morgan Stanley set a $255.00 price objective on shares of Cardinal Health in a report on Friday, February 6th. TD Cowen upped their target price on shares of Cardinal Health from $233.00 to $251.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Robert W. Baird set a $252.00 target price on Cardinal Health in a report on Friday, February 6th. Evercore lifted their price target on Cardinal Health from $250.00 to $260.00 in a research note on Friday, February 6th. Finally, Zacks Research upgraded Cardinal Health from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Cardinal Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.67.

Cardinal Health Stock Up 0.9%

Shares of CAH stock opened at $217.89 on Friday. Cardinal Health, Inc. has a 12 month low of $120.72 and a 12 month high of $233.60. The company’s fifty day simple moving average is $215.65 and its 200-day simple moving average is $189.79. The firm has a market cap of $51.27 billion, a PE ratio of 31.35, a P/E/G ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last released its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. On average, equities analysts predict that Cardinal Health, Inc. will post 7.95 earnings per share for the current fiscal year.

Cardinal Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 1st will be issued a $0.5107 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio (DPR) is presently 29.35%.

Cardinal Health Profile

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.