Asset Management One Co. Ltd. Grows Stake in Cardinal Health Inc (NYSE:CAH)

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Asset Management One Co. Ltd. increased its stake in Cardinal Health Inc (NYSE:CAH) by 55.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,932 shares of the company’s stock after acquiring an additional 80,325 shares during the period. Asset Management One Co. Ltd. owned approximately 0.08% of Cardinal Health worth $10,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CAH. Geode Capital Management LLC lifted its holdings in shares of Cardinal Health by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 4,155,931 shares of the company’s stock worth $185,121,000 after acquiring an additional 213,970 shares during the period. Victory Capital Management Inc. lifted its position in shares of Cardinal Health by 2.5% in the first quarter. Victory Capital Management Inc. now owns 52,306 shares of the company’s stock worth $2,519,000 after purchasing an additional 1,272 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Cardinal Health in the first quarter worth $215,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Cardinal Health by 31.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 47,119 shares of the company’s stock worth $2,269,000 after purchasing an additional 11,311 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Cardinal Health by 9.4% in the first quarter. Raymond James & Associates now owns 95,398 shares of the company’s stock worth $4,593,000 after purchasing an additional 8,165 shares in the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.

NYSE:CAH traded up $0.87 on Friday, reaching $46.92. 1,989,866 shares of the stock traded hands, compared to its average volume of 2,497,841. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 1.52 and a beta of 1.32. Cardinal Health Inc has a 1-year low of $41.03 and a 1-year high of $58.31. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average is $45.86 and its 200-day moving average is $45.96.

Cardinal Health (NYSE:CAH) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.93 by $0.18. The company had revenue of $37.35 billion during the quarter, compared to the consensus estimate of $36.70 billion. Cardinal Health had a net margin of 0.94% and a return on equity of 25.96%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. On average, equities research analysts forecast that Cardinal Health Inc will post 4.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.4811 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Monday, September 30th. Cardinal Health’s dividend payout ratio (DPR) is 36.36%.

Several analysts have issued reports on CAH shares. Argus lowered shares of Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Deutsche Bank began coverage on shares of Cardinal Health in a report on Thursday, September 12th. They issued a “hold” rating and a $50.00 target price for the company. Guggenheim set a $55.00 target price on shares of Cardinal Health and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley dropped their price objective on shares of Cardinal Health from $50.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, September 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Cardinal Health presently has an average rating of “Hold” and an average price target of $53.63.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.

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Institutional Ownership by Quarter for Cardinal Health (NYSE:CAH)

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